Lucky Block (LBLOCK/USD) Market Keeps Heading Downward
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Lucky Block Price Prediction – May 20
The Lucky Block (LBLOCK/USD) market keeps heading downward as the price invalidates support levels. The bears seem to have taken control of the market despite the historical resistance shown at the $0.0000240 price level.
The MA Cross currently indicates that the market is bearish. Owing to the continuous decline, the market has entered an oversold state, according to the indication of the Stochastic Oscillator. A retracement to the downside seems possible. However, the overall trend remains bearish.
LBLOCK/USD Market Key Levels:
Resistance levels: $0.00004500, $0.00007500, $0.00009700
Support levels: $0.00000240, $0.00000930, $0.00000120
LBLOCK/USD – Daily Chart
The LBLOCK/USD daily chart showcases that the market continues to experience a decline in the discount zone.
In February 2024, the market experienced a structure shift to the downside after a lower high formed. The downward crash continued until the support at $0.0000240 was hit.
Before the market structure shift, LBLOCK was within the trading range of $0.00000240 and $0.00007500. The correction to the 0.618 Fibonacci retracement caused the formation of a failure swing.
When will the LBLOCKUSD market likely resume its bearish trend?
A bearish order block had formed around $0.0000300. Due to the indication of the Stochastic Oscillator, LBLOCK is likely to retrace into the bearish order block. From the bearish order block, a slice decline is expected in alignment with the overall bearish trend.
LBLOCK/USD – Four-Hour Chart
The market declines alongside a major trendline on the four-hour chart. After running through the sell-side liquidity below the double bottoms at $0.0000290, LBOCK crashes into an oversold region. Owing to the oversold condition, the market is currently making a pullback in the FVG (Fair Value Gap) in the premium zone.
Lucky Block (LBLOCK) Current Statistics
The current price: $0.0000270
Market Capitalization: $2,090,000
Trading Volume:$21,820
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