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Lucky Block Price Forecast: June 7th
The Lucky Block price forecast shows the price trading near the $0.00001920 market level. The crypto market has been experiencing bearish pressure recently.
LBLOCK/USD Long Term Trend: Bearish (1-Day Chart)
Key Levels
Supply Zones: $0.0000400, $0.00003300
Demand Zones: $0.00002960, $0.00001920
After losing steam last week, buyers now hope to find support around the $0.00001920 key level. Entering a bearish trend last week, LBLOCKUSD saw high liquidity outflows due to weakening buyer momentum.
Lucky Block Price Forecast: LBLOCKUSD Outlook
Prior to this, daily charts showed struggles above the $0.00002500 zone after a period of consolidation from late May to early June. Sellers stepped in last week and took the price below this level. The current retest of the middle Bollinger Band provides an opportunity for buyers to place orders and potentially initiate a revival.
The $0.00001920 support plays a crucial role, with previous price reactions indicating its significance. Meanwhile, $0.00002500 acted as resistance before the breakdown. These key levels often influence trader sentiment and potential reversal points. The current retest gives buyers a chance to defend $0.00001920 and potentially spark a turnaround.
Should buyers regain strength on the back of order placement around support, they may be able to counter overwhelming sell pressure. However, a stronger downward push could mean sellers maintain control. Much depends on the relative bullish or bearish momentum added on both sides at this juncture. Monitoring crypto signals will be essential to gauge market sentiment.
LBLOCKUSD Medium-Term Trend: Bearish (4-Hour Chart)
The shorter timeframe also shows selling dominance. But buyers could engineer a reversal if they capitalize on the potential weakness indicated by support testing. Maintaining upside momentum becomes essential to shift power away from bears driving prices lower.
Traders should also weigh the possibility of continuation. Monitoring with the right crypto signals near the $0.00001920 key zone will provide clues on the next likely phase. An upside breakout of descending trends could also re-route the market.
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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