Lucky Block on Fire – Why $0.0016 is Crucial for LBLOCK?
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- Lucky Block, the new People’s Lottery platform, is scheduled to launch on March 21.
- The company’s valuation soared above the $200 million market cap.
- Lucky Block token is forming a higher high pattern, indicating strong bullish power.
Lucky Block is on a bullish run, having bounced off the support level of $0.0014 to trade at $0.0016. The coin is gaining massive hype and popularity in the market after being launched at PancakeSwap DEX on January 26. The globally-oriented blockchain-based lottery network is awaiting its initial listing on a centralized exchange.
With Lucky Block‘s CoinGecko and Coinmarketcap listings completed, its valuation crashed through the $160 million market cap. The crypto-powered ‘People’s Lottery’ platform is on a roll as it targets a Binance listing.
With the completion of Lucky Block‘s CoinGecko and Coinmarketcap listings, the company’s valuation soared above the $200 million market cap. The cryptocurrency-powered ‘People’s Lottery’ platform is on a roll as it works toward a February Binance listing.
To stay informed about it, interested parties are encouraged to join the official Telegram group, where pinned posts keep the community updated.
One of the reasons behind Lucky Block’s popularity is that the platform intends to pay a dividend to all token holders and will donate 10% of prizes to charity.
Lucky Block exchange listings
At the moment, it’s consolidating in the $0.0014 to $0.0020 region, with rumors of expected additional exchange listings. Lucky Block, the new People’s Lottery platform, is scheduled to launch on March 21. On the other hand, early investors are witnessing profits of over 1,000 percent.
The fast-growing FTX exchange is likely to lead the way, followed by Crypto.com, which monitors the LBLOCK price. Lucky Block has surged to a market cap of $200 million in the short time since its PancakeSwap listing, whereas the total supply of tokens is 100 billion tokens.
It has a total quantity of 100 billion LBLOCK coins and a circulating supply of 32.5 billion LBLOCK coins. If you want to purchase or sell Lucky Block, the most active exchange right now is PancakeSwap (v2).
Investors to eye on Lucky Block’s Binance listing
Supporters of the lottery platform have formed a thriving community on Lucky Block’s rapidly growing Telegram Group, which already has over 24,000 members worldwide. The Lucky Block team is currently ramping up its efforts to launch the Lblock token on Binance, the world’s largest cryptocurrency exchange.
The project’s organizers are presently implementing what appears to be a well-executed plan to introduce the cryptocurrency to Binance. Once the Lucky Block token is listed on Binance, there is a good chance of a massive uptrend.
Lucky Block supported despite bearish sentiment in Cryptomarket
The Lucky Block price continues to perform well despite the ongoing sell-off and bearish sentiment in the cryptocurrency market. Bitcoin’s value has roughly half since high above $69,000 on November 10, owing primarily to concerns over quicker Fed tightening.
The fortunes of bitcoin are inextricably linked with those of the equity markets, with the 60-day correlation between the two assets presently at 65 percent, up from nearly zero in 2017. The increasing sensitivity to stock market gyrations and macro issues such as central bank actions could be attributed to increased institutional participation. Furthermore, bitcoin has been used in inflation trading.
Bitcoin trading volume drops.
Bitcoin trading volume on major cryptocurrency exchanges was significantly lower than a week ago. During the week-long lunar New Year (also known as Chinese New Year) holidays, many Asian stock indexes were closed. Many crypto traders in the area may have also taken time off. Therefore, the cryptocurrency market is likely to exhibit choppy trading sessions.
Although the fundamentals indicate a strong bullish trend, we should also consider LBLOCK’s technical side.
Technical outlook – Why $0.0016 is crucial for LBLOCK?
On the technical front, Lucky Block has gained significant traction at the $0.0016 level. On the daily timeframe, the Locky Block token is forming a higher high pattern, indicating strong bullish power. As a result, closing candles above the $0.0016 support level will certainly result in a sharp uptrend in the price of Lucky Block.
The token’s immediate resistance remains at $0.0018, and a break above this level can spark a new uptrend. A surge in Lucky Block demand could cut through the $0.0018 level, aiming for $0.0021 or $0.0025.
However, if the coin is listed on Binance, the bullish potential will be maximized.
