Lucky Block Price Prediction: Can LBLOCK Bounce-off Above $0.0021?
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Lucky Block is a blockchain-based online lottery platform that allows for more secure gaming and faster payouts. According to the whitepaper, it focuses on promoting transparent and fair gaming practices. The current Lucky Block price is $0.002547, with $566,156 in 24-hour trading volume. In the last 24 hours, Lucky Block has lost 6.56 percent of its value. However, the declines could be short-lived as several significant milestones and improvements in the LBLOCK network tend to boost its price.
By the way, when an investor purchases Lucky Block in the official Lucky Block Telegram group, the Lucky Block market capitalization and other price metrics are updated. Let’s take a look at major developments.
Latest Developments in Lucky Block
Recently, Lucky Block has announced several significant milestones and advancements that may impact the LBLOCK coin’s value. For example, Lucky Block’s Android application was released in March 2022, allowing individuals worldwide to download and try the blockchain-based lottery-style game. The app has been approved for distribution in 150 countries, which shows that it meets all local rules.
Lucky Block Version 2
Lucky Block released version 2 of its network in February 2022. It is Ethereum (ETH) compatible and acts as a doorway to the wide world of Ethereum assets, apps, users, and dealers. The team came up with a new tax strategy to make the coin more “exchange-friendly”. Moreover, it’s likely to be listed on big, centralized exchanges like Bitfinex.
Lucky Block NFT
Lucky Block has also announced the creation of the world’s first non-fungible token (NFT). It might help the LBLOCK coin gain even more value. Meanwhile, Lucky Block’s development team is looking for listings on popular cryptocurrency exchanges. These exchanges include Binance, Crypto.com, and FTX. It could help the price of LBLOCK in the long run if these exchanges accept it.
According to the price trend, the price of Lucky Block (LBLOCK) has been continuously increasing in value over the last few days. With several fascinating ownership benefits and the possibility to profit from price increases, Lucky Block has swiftly become one of the most popular cryptocurrencies of the year. With a slew of new developments on the way, now might be the best time to add Lucky Block to your portfolio.
LBLOCK Roadmap Keeping LBLOCK/USDT Supported
The development team has a great roadmap. Thus, the token’s strong presence as one of the finest staking coins is even more reason to invest in Lucky Block. The token has had much success since it was added to PancakeSwap. This, along with its great use cases, means that the Lucky Block price forecast for the next few weeks and months is very optimistic.
Downtrend in Overall Crypto Market Pressures LBLOCK
Investors looking for hints on bitcoin’s recent failure despite continuous collection by the Luna Foundation Guard (LFG). Traders may want to look at the ever-growing list of macro dangers and what’s going on in traditional markets. The world’s largest cryptocurrency plummeted below $42,000 during European trading hours. Hence, reaching the lowest level since March 22 and extending the decline from the late March high of $48,240. The ongoing decline occurred despite LFG contributing $173 million in bitcoin to its wallet over the weekend. It brought its total holdings to about 40,000 BTC.
According to statistics provided by charting platform TradingView, the dollar index (DXY), which gauges the greenback’s value against a basket of foreign currencies, reached two-year highs above 100 early today, bringing the year-to-date gain to 4.3 percent. This month, the global reserve currency has increased by 1.5 percent.
According to Kevin Kelly, co-founder and global director of macro strategy at Delphi Digital, the dollar and bitcoin have an inverse relationship. “2017 was one of the worst years for the dollar, and it coincided with a massive surge in bitcoin,” Kelly said in a March analyst call. “In early 2021, we witnessed bitcoin skyrocket. This was due to the weakening of the US currency.” Hence, this could be keeping cryptocurrencies under pressure.
Lucky Block Price Prediction – Bullish Correction
Recalling our previous Lucky Block Price Forecast, the technical outlook hasn’t changed a lot. On Monday, the LBLOCK/USD coin was trading at $0.0034 with a slight bullish bias. During the previous week, LBLOCK/USD tested a double bottom support level of $0.0021. The coin bounced off to complete a 23.6% Fibonacci correction. If candles close above the 23.6% Fib level, Lucky Block is likely to be exposed to the next major resistance level of $0.0047.
This particular resistance level will be extended by a 38.2% Fibonacci level. A surge in Lucky Block demand can drive a further uptrend until $0.0058 or $0.0068, the levels that mark 50% and 61.8% Fib, respectively.
On the downside, the LBLOCK/USD coin’s immediate support level stays at the $0.00248 level. A sharp increase in selling pressure could result in a bearish breakout below the $0.0024 level. In that case, the LBLOCK price is likely to be exposed to the $0.0012 level. Consider buying above $0.0033 with a target of $0.0040 or $0.0047. That is all I have for the time being. All the best!
