Lucky Block Price Forecast: LBLOCK/USD Makes Significant Breakout of Rising Wedge Pattern

Updated:

Lucky Block Price Forecast: May 18

The Lucky Block price forecast is bullish as the market spiked through the resistance level at $0.001240. 
 

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

Key Levels
Supply Zones: $0.001240, $0.001160, $0.001100, $0.001000 
Demand Zones: $0.000790, $0.000870, $0.0009170, $0.001160  
Lucky Block Price Forecast: LBLOCK/USD Makes Significant Breakout of Rising Wedge PatternLBLOCK/USD has surged beyond the resistance level at $0.001240. The market’s impulsive move to the upside has caused a breakout of the rising wedge on Lucky Block.
 

Lucky Block Price Forecast: LBLOCK/USD Market Outlook 

The bulls have the rule as the demand zones are holding to push the price higher. The market’s resistance zones have been poorly defended since the reversal at $0.000790. The previous highs in the market have given way to new highs easily. The significant lows formed are also higher than the previous ones to show the bullish trend.
 
The Moving averages of periods eighty-nine and two hundred have revealed that the market is bullish. Since the cross of the Moving Averages, the intraday candles have formed above the Moving Averages to show bullishness.
 
On the 17th of May, the Average Directional Index (ADX) revealed the bulls were extremely energetic. This strength of the bullish trend is also obvious with the large size of the candles formed on the 17th of May. The ADX is currently dropping as the market is correcting to show the weakness of the bears in the market.
 

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

The market is currently in a correction phase as a result of the impulse that occurred yesterday. A bearish channel is guiding the market to retest the rising wedge. 
Lucky Block Price Forecast: LBLOCK/USD Makes Significant Breakout of Rising Wedge PatternThe retest of the rising wedge is likely to occur at $0.001240. The confluence of the bullish trend line and the support level is expected to cause an influx of bulls.

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.