Lucky Block (LBLOCK/USD) Market Breaks Through $0.00002440 Major Support
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Lucky Block Price Forecast – June 10
The Lucky Block (LBLOCK/USD) market breaks through $0.00002440 major support. The breakout was followed by long-term consolidation within a descending triangle pattern.
Based on the indication of the MA Cross, the price is now clearly bearish. The sell signal has since been given by the MA Cross while the market was still in the descending triangle pattern. The moving averages have however widened farther apart as more bears storm the market due to the breakout. The MACD (Moving Average Convergence Divergence) also gives the same indication as it remains below the zero line.
LBLOCK/USD Market Key Levels
Resistance levels: $0.00000240, $0.00004500, $0.00007500
Support levels: $0.00000930, $0.00000120, $0.00000100
LBLOCK/USD – Daily Chart
The daily chart for LBLOCK/USD shows that the market has finally experienced a successful breakout to the downside after the long-term consolidation.
There is a clear downward trend indicated by the descending trendline starting from the recent peak around April. The price has been respecting this trendline and consistently making lower highs and lower lows.
What are the critical points to watch out for for a potential reversal for LBLOCK/USD?
The Fibonacci retracement levels drawn from the high point to the recent low indicate key levels where the price might face resistance during any upward retracement. The 0.382 retracement level around 0.000013120 and 0.5 at 0.000009630 are crucial levels to watch.
LBLOCK/USD – Four-Hour Chart
The four-hour chart shows that LBLOCK/USD is now strongly bearish. This follows the successful breakout that just occurred into the discount zone.
Currently, the market is experiencing a reaccumulation. This might cause a short-term rally, at least into the liquidity void in the premium zone.
Lucky Block (LBLOCK) Current Statistics
The current price: $0.00001930
Market Capitalization: $1,430,000
Trading Volume:$10,850
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