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Lucky Block Price Forecast: December 11
The Lucky Block price forecast is for the market to rebound towards the $0.00008800 resistance level again to break it.
LBLOCK/USD Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Supply Zones: $0.0000600, $0.0000880, $0.0001100
Demand Zones: $0.0000260, $0.0000360, $0.0000490
LBLOCKUSD keeps making more bullish strides as it finally breaks free of its consolidation shackle. The breakout happened on the 6th of December, and the price has been ever-rising since then to test the $0.00008800 resistance level. This finally happened over the weekend. However, the market now has its first setback since the breakout after being rejected at the said resistance level.
Lucky Block Price Forecast: LBLOCK/USD Outlook
LBLOCKUSD continues its bullish momentum, breaking free from consolidation constraints that persisted until the breakout on December 6th.
Since then, the price has steadily risen, aiming to challenge the $0.00008800 resistance level, a milestone achieved over the weekend.
However, the market faces its first setback post-breakout after encountering rejection at this crucial resistance point.
LBLOCK/USD Medium-Term Trend: Bullish (4-hours chart)
The Relative Strength Index (RSI) line, which previously surged into the overbought region, has undergone a significant decline, approaching the 50 mark. While the MA Cross (Moving Average) is yet to fully adapt to the abrupt market rejection, it is poised to potentially act as a supportive element for the market’s rebound.
The 4-hour chart illustrates three attempts to breach the resistance level before facing a final rejection. The RSI line has descended below the 50 mark, and the latest candles have dipped below the MA Cross. Unless the market experiences a swift retracement, an impending downward cross seems likely. Nevertheless, a rebound from the current $0.0000490 support level is anticipated.
How To Buy Lucky Block
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.
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