Lokesh Gupta
31-08-2024
Lucky Block, a top crypto casino, saw its native token, LBLOCK, experience a significant surge upon launch.
LBLOCK hit its peak value of $0.0097 on February 17, 2022, before undergoing a significant correction.
The price has since entered a period of extended consolidation, marked by low volatility and little price change, suggesting that short-term traders have exited, leaving primarily long-term investors.
The ongoing consolidation indicates strong support around $0.00001500, where the price has stabilized.
For the past few weeks, LBLOCK has been fluctuating between $0.00014 and $0.00016, remaining in a tight trading range.
If the current support level holds firm, it could provide a foundation for a potential upward price movement.
The next major resistance is near $0.00002900, which is close to the 200-day moving average and could act as a critical barrier to further price gains.
The 50-day moving average, which is aligned with the current price at around $0.00015, indicates a neutral market trend.
The RSI is at 50, indicating that the market is balanced, with no immediate signs of being overbought or oversold.
If the support at $0.00001200 fail, it could trigger a sell-off, potentially driving the price down towards $0.00000500
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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