Lucky Block Price Prediction- June 13
Further pressure from the bulls will increase the price action of L/BLOCKUSD up to $0.002067 and beyond if the current support level holds.
Key Levels:
Resistance levels: $0.002060, $0.002160, $0.002260
Support levels: $0.001093, $0.001023, $0.000953
LBLOCKUSD Long-term Trend: Bearish (4H Chart)
The pair is in a bearish trend zone on the 4-hourly chart. The bulls actually moved the Lucky Block price up to the $0.001095 resistance level before the sellers took over during yesterday’s session.
The bears’ interference drops the price action down to the $0.0009895 support level below the moving averages even as the 4-hourly chart opens today.
The momentum indicator shows that the selling pressure of LBLOCKUSD has reached bearish exhaustion as the market is oversold at around level 7%. Looks like the price will bounce up again.
Therefore there is the possibility of more upsides now, as we expect the price distribution to reverse and reach the $0.002067 significant level soon as it resumes its uptrend in the days ahead in its long-term view.
LBLOCKUSD Medium-term Trend: Bearish (1H Chart)
The currency pair is trading in the bearish trend zone in its medium-term outlook. LBLOCKUSD market value at $0.0009719 support level below the moving averages as the 1-hourly chart opens today affirms the presence of more bears in the market.
However, the momentum indicator pointing upward in the market at around level 5% in the oversold region suggests that the bulls are set to take the price action up to a significant level of $0.002067 as we expect the traders to turn to the bullish market soon in the medium-term view.
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