Lucky Block Price Forecast: LBLOCK/USD Keeps Accumulating Momentum in Consolidation

Updated:

Lucky Block Price Forecast – April 18

The Lucky Block price forecast is for the market to keep accumulating momentum in consolidation, from which it will eventually break out.


LBLOCK/USD Long-Term Trend: Bullish (30-Minute Chart)

Key Levels:
Supply Zones: $0.00222220, $0.00304100
Demand Zones: $0.00189390, $0.00160000
Lucky Block Price Forecast: LBLOCK/USD Keeps Accumulating Momentum in ConsolidationLBLOCK/USD has continued its sideways movement in consolidation. The price is undulating between the $0.002222200 resistance level and the $0.00189390 support level. In so doing, the market is storing up momentum by which it is expected to break out to higher price levels. The support level at $0.00189390 remains critical to the upward drive of the market.


Lucky Block Price Forecast: LBLOCK/USD Price Anticipation

After failing to capitalize on its surge to the $0.00378260 price level, the price suffered rejection and began a descent that plunged it through a significant transition zone around the 0.003244400 level.

The transition level turned from support to resistance as the market kept dropping. The price quickly plunged through additional market levels to reach the $0.00189390 support. This is an opportunity for buyers to enter the market at a low price level.

The market is now accumulating momentum as it ranges. The Bollinger Band squeezes around the daily chart to confirm this. The RSI (Relative Strength Index) is dropping again from overbought.


LBLOCK/USD Medium-Term Trend: Bullish (5-minute chart)

After the price broke away from its downtrend line, it began bouncing on and putting pressure on the support level at $0.00189390. There was a false break out down on the 19th of March, but the market recovered above the level. Hence, the 5-minute RSI line has also been pushed up from the oversold region but is falling again.
Lucky Block Price Forecast: LBLOCK/USD Keeps Accumulating Momentum in ConsolidationLike on the 30-minute chart, the Bollinger Band on the 5-minute chart has generally squeezed around the candles. But after recovering from the false breakout, the candles have pushed against the upper Bollinger Band. The coin is expected to bounce off the support level and move towards $0.00304100.

How To Buy Lucky Block

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.