Lucky Block Price Forecast: LBLOCK/USD Retests Descending Trend Line After Bullish Breakout

Updated:

Lucky Block Price Forecast: June 15

The Lucky Block price forecast calls for new highs above $0.00100


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

Key Levels:
Supply Zones: $0.001700, $0.001450
Demand Zones: $0.001000, $0.000760
Lucky Block Price Forecast: LBLOCK/USD Retests Descending Trend Line After Bullish BreakoutLucky Block bulls pushed through the descending trend line. The bearish channel was invalidated yesterday after the bullish breakout in the market.


Lucky Block Price Forecast: LBLOCK/USD Outlook

Lucky Block has descended steadily since the 7th of June. The intraday candles were very sensitive to the Bollinger Bands as the market moved towards the demand levels. On the 7th of June, the bulls made their first attempt to go long. The Moving Average Convergence and Divergence (MACD) and the Stochastic indicators were oversold. The bull pushed up to cross the Moving Average within the Bollinger Bands before getting exhausted.

LBLOCK/USD bulls gathered momentum at $0.000760. The market was oversold on the MACD and the Stochastic. This led to the invalidation of the resistance trend line. An ascending trend line has formed with the higher low after the test of the major level at $0.000760. The previous demand level at $0.001000 was reached after the bulls reacted actively at the $0.000760 support level.

The market has retraced to a bullish confluence point in the 30-minute timeframe. The new bullish trend line and the previous resistance line have converged to support the market to ascend. The Stochastic and the MACD (Moving Average Convergence and Divergence) indicators are also oversold on the 30-minute chart.


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

LBLOCK/USD has shown positive signs, with the breakout prominent on the five-minute chart. The confluence point is likely to provide support to go long.
Lucky Block Price Forecast: LBLOCK/USD Retests Descending Trend Line After Bullish BreakoutA lower timeframe reversal is expected to continue the bullish breakout. The major level at $0.001000 is the nearest point anticipated on the Lucky Block Market.

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.