Lucky Block Price Prediction: Lblock Successfully Breaks Out of the Descending Channel

Updated:

Lucky Block Price Forecast – May 3

The Lucky Block price forecast has been bullish since the breakout from the descending channel on May 2nd.


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

Key Levels:
Supply Zones: $0.0019870, $0.0018530
Demand Zones: $0.0016540, $0.0012810
Lucky Block Price Prediction: Lblock Successfully Breaks Out of the Descending ChannelLBLOCK/USD created lower lows and highs as the market dipped towards the demand zone at $0.0012810. The resistance levels successfully defended bullish moves in the market from the 23rd of April. A double top was formed beneath $0.0019870. This reversal pattern eventually played out successfully with the break in the market structure.


Lucky Block Price Prediction: LBLOCK/USD Prospects

The Lucky Block bounced on both edges of the descending channel. The demand levels failed to hold as the bears went short. The market eventually struck the demand zone at $0.0012810. The support level formed a confluence with the supporting trend line of the descending channel.

The confluence area was struck when the market was at a deeply discounted price. The MACD (Moving Average Convergence Divergence) signalled that the market was oversold.

The cross of the Moving Averages (period twenty-one and period nine) was a confirmation of the change in market direction. The bulls utilized the opportunity to go long in the market. The bullish surge successfully swept the internal structure high.


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

The market has created higher highs in a step-wise fashion. The bearish retracement after the bullish breakout is almost negligible. The pull of price to the upside was so strong after the breakout that there was no retest of the descending channel. The market price has ascended past $0.0016540.
Lucky Block Price Prediction: Lblock Successfully Breaks Out of the Descending ChannelThe market is expected to tap into the supply level at $0.0018430. The majority of the candles on the five-minute chart are supported by the Moving Average period nine and the Moving Average period twenty-one.

How To Buy Lucky Block 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.