Lucky Block Price Forecast: LBLOCKUSD Set to Rise with Double Bottom Formation

Lucky Block Price Forecast: August 11

The Lucky Block price forecast is for the market to use a double bottom formation to propel itself beyond the resistance levels to reach above $0.0001420.

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

Key Levels
Supply Zones: $0.0001990, $0.0001420, $0.0001100
Demand Zones: $0.0000880, $0.0000720, $0.0000360

LBLOCKUSD market is aggressively seeking a breakout opportunity while trading laterally within a price channel of $0.0001420 and $0.0000880. It hasn’t breached the resistance level yet, but it also remains above the $0.0000880 support.

Lucky Block Price Forecast: LBLOCK/USD Outlook

The Lucky Block market has been exhibiting upward surges originating from $0.0000880 in its endeavor to recover from the demand level following resistance challenges.

The repetition of this pattern twice has given rise to a bullish reversal formation known as the double bottom. This pattern holds the potential to propel the market through resistance levels, facilitating an ascent beyond $0.0001420.

The RSI (Relative Strength Index) mirrors this double bottom formation, with its neckline aligned at the 50 mark. A breakout above this threshold would augur well for LBLOCKUSD.

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

The MA period 30 (Moving Average) on the daily chart is acting as the neckline on the double bottom formation on the price chart. Trading beyond this level will initiate potential upward movement upon a breakout.

Examining the 4-hour chart, candlesticks have slightly surpassed the MA period 30, a trend also mirrored by the RSI, with the line ascending above the 50 mark. A confirmation on the daily chart would initiate a breakout, positioning the price for a potential ascent beyond $0.0001420.

 

How To Buy Lucky Block

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