Lucky Block Price Forecast – August 8
The Lucky Block price forecast is for the market to gear into an upward drift after finding balance above a critical level at 0.00064310.
LBLOCK/USD Long-Term Trend: Bullish (30-Minute Chart)
Supply Zones: $0.00076050, $0.00105100
Demand Zones: $0.0006401, $0.00079960
Lucky Block is set to recover from a bearish season after it suffers rejection from a critical level. The result is a downward wobbling movement that plunges the market all the way to the 0.00064310 key support. After expanding for 3 days, LBLOCK will use this support as a solid platform to gear into a bullish drift.
Lucky Block Market Expectation: LBLOCK/USD Revives Bullishness
The Lucky Block Coin is bullish towards the end of July until it hits a bulwark around the $0.0010510 key level. This immediately sends the market spiraling downward through several key levels.
As the price was dropping, it kept testing the durability of the support levels. Several price levels were unable to sustain the coin for a reversal until it got to 0.00064310. The market then expands on this level and is ready to surge.
As the market expands for three days, the EMA period 100 (Exponential Moving Average) has dropped close to the 30-min candles, making it much easier for DEFCUSD to break through it when it begins a rally.
LBLOCK/USD Medium-Term Trend: Bullish (5-minute chart)
On the 5-minute chart, the EMA period 100 had dropped to the level of the candles, although it remains marginally above it. This leaves room for the price to easily surpass the EMA period 100 and then convert it to a market support.
The MACD (Moving Average Convergence Divergence) also shows the current state of expansion in the market. Its lines are predominantly circling close to the zero level. This is accompanied by alternating histogram bullish and bearish bars. When the rally begins, LBLOCK is expected to first break $0.00076050 on its way to reclaim more price levels.
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