26.09.2022
Chicago 12, Melborne City, USA
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LBLOCK Finds Support for Strong Bullish Potential

Lucky Block Price Forecast – August 2

The Lucky Block price forecast is bullish. The market has dipped below the fifty percent level of the Fibonacci scale to provide better opportunities for the bulls.

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

Key Levels:
Supply Levels: $0.001070, $0.000950.
Demand Levels: $0.000880, $0.000780
Lucky Block was in consolidation during the first week of July. The intraday candles bounced back and forth between the supply level at 0.000950 and the demand level at 0.000880.

Lucky Block Price Forecast: LBLOCK/USD Outlook

LBLOCK market dived after the consolidation to create a directional manipulation. The market started rising rapidly after the bearish motion to $0.000780. The bulls utilized the bearish breakout from $0.000880 to go long at a deeper discount. The market skyrocketed when the Stochastic was in the oversold region.

Higher highs and higher lows formed as the price took off from the demand level. The higher lows aligned neatly along a bullish trend line as the market ascended. The second half of the month was very bullish. The market broke the previous supply level at $0.000950. The market peaked above $0.001070 in July.

There was a bearish market structural shift just below $0.001070. The market entered a correction phase to seek support. The RSI (Relative Strength Index) has dipped into the oversold region. The market has dropped below the midpoint of the bullish range to continue the bullish run from discount levels. The Stochastic is also in the oversold region like the RSI. This is expected to get the bulls prepared to strike.

Medium-Term Trend: Bullish (5-minute chart)

LBLOCK/USD is also oversold on the 5-minute chart, as it is on the 30-minute time frame. The Stochastic and the RSI indicators are in the oversold region.
Lucky Block Price Forecast: LBLOCK/USD Finds Support for Strong Bullish Potential in the Discount ZoneThe market is expected to form a bullish structural shift with a change of character (CHOCH). The nearest major level at 0.000950 is expected to be bridged by the bulls.

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