Lucky Block Price Forecast: LBLOCKUSD Keeps Testing the $0.0000880 Resistance

Lucky Block Price Forecast: December 18

The Lucky Block price forecast is for the market to keep testing the $0.0000880 resistance level till it soars above it.

LBLOCK/USD Long-Term Trend: Bullish (1-Day Chart)

Key Levels-
Supply Zones: $0.0000880, $0.0001100
Demand Zones: $0.0000600, $0.0000360
Lucky Block keeps testing the $0.0008800 resistance level in a bid to weaken it and rise beyond it. The market is free to punch higher after it breaking out of a long consolidation. The price first tested the resistance level consistently immediately after the breakout, but $0.0000880 remained solid throughout. The coin dropped back to $0.0000490 and rebounded again last week towards the resistance where it got rejected once more.

Lucky Block Price Forecast: LBLOCK/USD Outlook

LBLOCKUSD persists in its rigorous testing of the $0.0000880 resistance level, aiming to erode its strength and ascend beyond it.

Following a breakout from an extensive consolidation phase, the market is poised for higher movements. Initial attempts to breach the resistance immediately after the breakout proved futile, with $0.0000880 demonstrating resilience.

Subsequently, the coin retraced to $0.0000490 and experienced a rebound last week, encountering rejection once again at the resistant threshold.

LBLOCK/USD Medium-Term Trend: Bullish (4-hour chart)

Despite the setback, the price predominantly maintains an elevation above the MA period 20 (Moving Average), providing a foundation for bulls to reignite their efforts towards the $0.0000880 resistance. The Elders Force Index (EFI) power line is currently fluctuating around the zero line and has recently dipped into negative territory.
On a lower timeframe, the situation appears more encouraging. Candlesticks have spiked below the MA period 20 following the latest rejection, accompanied by a major rise of the EFI power line above the zero level on the 4-hour timeframe. Therefore, this upward surge of the EFI indicates a potential resurgence in bullish momentum. Anticipate additional testing at the resistance level until its fortitude weakens, eventually yielding to upward progression.

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.