Lucky Block Price Forecast: Lucky Block Is Executing a Strategy to Breakout

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Lucky Block Price Forecast – August 23

The Lucky Block price forecast is for the coin to finally break out from its strong resistance level after executing a triangle consolidation strategy.

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

Key Levels:
Supply Zones: $0.0039090, $0.0027680, $0.0029980
Demand Zones: $0.0017030, $0.0019300, $0.0009870
Lucky Block is executing a strategy to shrug off the price levels that have been limiting the upward movement in the market. At the same time, the coin still relies on a strong demand level to stay afloat. The price has tapered to the tip of the triangle pattern and is set to break out of its confinement anytime soon. This will remove the shackles from the bulls and allow them to reach for $0.0039090.

Lucky Block Market Expectation: LBLOCK/USD Revives Bullishness

Lucky Block bulls are still battling to re-assert themselves in the market. Their activities have been curtailed since the upsurge that took place at the beginning of the month. As a result, the price dropped below $0.0027680.

The $0.0027680 key level whose influence extends to $0.0029980, has hindered the market this far. The buyers are now positioning themselves strategically into a descending triangle formation to break the resistance.

The gradual decrease in volatility of the MACD (Moving Average Convergence Divergence) lines highlights the market’s strategy of consolidation before the coin breaks upward with momentum.

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

The 5-minute chart shows the tapering movement of the price. While Lucky Block has remained stable at the $0.0019710 strong support level, it has been constantly testing the resistance. Thereafter, the market began tapering into the triangle pattern, making continuous lower highs.
The MA period 50 (Moving Average)has been undulating with the 5-minute candlesticks and has currently slipped to the bottom of the candles to give it extra support as the coin prepares to break out. Successful execution of this strategy will push the price past the resistance level back to $0.0039090.

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