Lucky Block Price Forecast: August 4
The Lucky Block price forecast is bullish. The market has tested a significant demand level at $0.000790. This has prompted the rise in the value of the Lucky Block.
LBLOCK/USD Long-Term Trend: Bullish (30-Minute Chart)
Supply Levels: $0.001160, $0.001080.
Demand Levels: $0.000870, $0.000790
Lucky Block has experienced a major bullish breakout from a descending triangle. Momentum was gathered at the $0.000790 support zone to go long in the market.
Lucky Block Price Forecast: LBLOCK/USD Outlook
The demand level was tested multiple times in July. The bulls prevented the violation of the demand level. Lower highs were formed under a descending trend line. On the 14th of July, there was a bullish structural shift. The price rose impulsively and broke out above the descending trend line, which was acting as resistance.
The support level at $0.000790 was tested on the 14th of July. The market was already oversold during the period. The buying pressure caused the price of Lucky Block to skyrocket above the resistance level at $0.001080.
The market has corrected back to the descending triangle for a retest. A positive reaction in price has been observed at $0.00790 with the bullish surge. The upward move from the demand level has spiked through the $0.000780 significant level. This is also seen with an increase in momentum on the 39-minute chart. The Stochastic shows that the market is oversold. The price is expected to continue to increase as the buying pressure rises.
Medium-Term Trend: Bullish (5-minute chart)
LBLOCK/USD has tested a demand level in the lower timeframe. An upward trend-line is seen to help support the bullish motion.
The lower timeframe is also oversold on the Stochastic. The market is expected to rise to the supply zone at $0.00116.
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