Lucky Block (LBLOCK/USD) Market Keeps Declining Within a Descending Channel
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Lucky Block Price Forecast – July 1
The LBLOCK/USD market keeps declining within a descending channel. The descending channel emerged following the retraction from the $0.00004500 resistance.
A negative histogram is displayed by the MACD indicator, with the MACD line falling below the signal line, signifying persistent downward pressure. There is more selling pressure because the 9-day and 21-day moving averages are both in a downward crossing. Given that LBLOCKUSD is still below both moving averages, it appears that the sellers remain in complete control.
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 keeps declining within a descending channel.
LBLOCKUSD has been in a descending channel since mid-April, marked by lower highs and lower lows. The recent candles show long wicks, revealing that buyers are attempting to push the price up but are consistently overpowered by the sellers.
What is expected of LBLOCK/USD in the next few days?
LBLOCKUSD is probably going to test the bottom limit of the falling channel at 0.00001500 if the negative trend keeps up. Should the price fall below this barrier, it may go toward the next support level, which is around 0.00000930.
LBLOCK/USD – Four-Hour Chart
The four-hour LBLOCKUSD chart, which is characterized by lower highs and lower lows, supports a bearish trend inside a descending channel. Due to intense selling pressure, the price has continuously failed to break above the resistance level of 0.00002440.
The price is still below the 9- and 21-period moving averages, which indicates that the negative trend is still there. The crossing of these averages is bearish. The MACD histogram is close to zero, but the MACD line is below the signal line, indicating a possibility for another decrease and feeble bullish efforts.
Lucky Block (LBLOCK) Current Statistics
The current price: $0.00001710
Market Capitalization: $1,330,000
Trading Volume:$7,160
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