Lucky Block (LBLOCK/USD) Market Breaks Lower
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Lucky Block Price Forecast – June 17
The LBLOCK/USD market breaks lower as major resistance at $0.00002280 holds. Another bearish BOS (Break Of Structure) is likely to occur following the retraction from the resistance.
The Moving Average Convergence Divergence (MACD) indicator shows a bearish crossover, where the MACD line crosses below the signal line. This crossover is a classic sell signal, indicating potential downward momentum. Furthermore, the MACD histogram is in negative territory, reinforcing the bearish sentiment. The short-term moving averages (9-day and 21-day) are both trending downward, and the price is currently below these moving averages, which typically signifies ongoing bearish pressure.
LBLOCK/USD Market Key Levels
Resistance levels: $0.00002280, $0.00004500, $0.00007500
Support levels: $0.00001860, $0.00000930, $0.00000120
LBLOCK/USD – Daily Chart
The daily chart for LBLOCK/USD shows that the market is heading lower as major resistance at $0.00002440 holds.
A liquidity void indicated a significant gap between supply and demand zones, suggesting a lack of strong support until much lower levels. The Break of Structure and subsequent retracements have also respected the downtrend, with the price failing to break key resistance levels around $0.00002280.
For any bullish reversal to be considered, the price must break above the immediate resistance at $0.00002280 and the descending trendline with strong volume. Until then, the bias remains heavily tilted towards further downside pressure.
What are the critical points to watch out for for a potential reversal for LBLOCK/USD?
Looking ahead, the projection for LBLOCKUSD remains bearish. The failure to hold above the liquidity void and recent lower highs suggest that the pair could test lower support levels soon. If the bearish momentum continues, the next key support level to watch is around $0.00001500.
LBLOCK/USD – Four-Hour Chart
The four-hour chart shows that LBLOCK/USD remains bearish. This aligns with the indication of the MA Cross on the four-hour chart. Currently, the market is set to experience another BOS. Following the BOS, the downtrend might continue into the 0.00000930 demand zone.
Lucky Block (LBLOCK) Current Statistics
The current price: $0.00001970
Market Capitalization: $1,490,000
Trading Volume:$5,720
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