LUCKY BLOCK MARKET FORECAST: LBLOCK/USD IS SET FOR AN UPWARD BREAKOUT


Lucky Block Market Forecast – February 3
The Lucky Block market forecast points towards a breakout to the upside after the market conforms to a triangle pattern.


LBLOCK/USD Long-term Trend: Bullish (Daily Chart)

Key Levels:
Resistance Levels: $0.0011500, $0.001370
Support Levels: $0.0009490, $0.0007300
Lucky Block Market Forecast: LBLOCK/USD Is Set for an Upward BreakoutLBLOCK/USD bulls are leveraging on a strong and significant price level to halt the activity of the bears. Furthermore, the price is expected to rise further in favor of buyers as it follows a symmetrical triangle pattern. Hence, the market can be seen making consistent lower highs and higher lows as it tapers through the triangle pattern. From yesterday into today, the market has become quiet as it waits for market forces to push it in an upward direction.


Lucky Block Price Prediction: LBlock Market Anticipation
The market has been in decline since hitting a strong resistance level at $0.001970. The price is seen gyrating downward above the downtrend line. The fall in the price of Lucky Block is an opportunity for buyers as they set themselves up in an array to gazump the market at a lower price.

The $0.0009490 key level is the reversal point at which the bulls chose to enter the market. Bears were unrelenting nevertheless, and they dragged the market below the strong support level. However, the price is now recoiling into a triangle pattern as it prepares for a push-up.

LBLOCK has climbed back above the strong support at $0.0009490 as it tapers through the symmetrical triangle. The Parabolic SAR (Stop and Reverse) already infers a change of direction upwards with multiple dots below the daily candles. The Stochastic, meanwhile, has risen to midlevel, from where it has crossed upward to the overbought region. A slight pullback may precede a market breakout.


LBLOCK/USD Medium-Term Trend: Bearish (5-minute chart)
The 5-minute chart helps us see the silence in the market as bulls get ready to swoop into the market. LBLOCK/USD is currently ranging between $0.001150 as resistance and $0.0009490 as support, and the price is set to take a definite direction.
Lucky Block Market Forecast: LBLOCK/USD Is Set for an Upward BreakoutLike the daily chart, the Parabolic SAR has multiple dots below the 5-minute candles to signal a switch in an upward direction. The Stochastic on the 5-minute chart is currently hovering around the overbought region. The price is likely to touch down at $0.0009490 before breaking out upward towards $0.001370.

Source: https://learn2.trade/lucky-block-market-forecast-lblock-usd-is-set-for-an-upward-breakout

CARDANO PRICE EXPOSES TO $0.98 SUPPORT LEVEL


When the sellers increase their momentum to push down price below $0.98, the support level of $0.83 and $0.73 may be tested. In case the Support level of $0.98 holds, the buyers may push up the price towards $1.11, $1.30 and $1.46 levels.

ADA/USD Market

Key Levels:

Resistance levels: $1.11, $1.30, $1.46

Support levels: $0.98, $0.83, $0.73

ADA/USD Long-term Trend: Bearish

Cardano is bearish on daily chart. Buyers and sellers are struggling over the crypto. The sellers are trying to overpower the buyers. Former support level of $1.30 and $1.11 has been penetrated downside by the sellers and the price exposes to $0.98 support level. There is tendency for the price to decline further if the sellers maintain their pressure.


ADAUSD Daily chart, January 25
Cardano has crossed the two EMAs downside, currently trading below the 9 periods EMA and 21 periods EMA at distance which indicate a bearish movement. When the sellers increase their momentum to push down price below $0.98, the support level of $0.83 and $0.73 may be tested. In case the Support level of $0.98 holds, the buyers may push up the price towards $1.11, $1.30 and $1.46 levels. The relative Strength Index period 14 is at 40 levels with the signal line pointing downside which indicates sell signal.

ADA/USD Medium-term Trend: Bearish

Cardano is on the bearish movement on 4-hour chart. The bullish movement could not continue when the buyers pushed up Cardano to test the resistance level at $1.64. The bears reacted against the price increase with the formation of bearish engulfing candle. The price started decreasing and the support level of $1.30 is broken downside. Further price decrease envisaged as the price is below the two dynamic resistance levels.


ADAUSD 4-hour chart, January 25
The price is trading below the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 40 levels and the signal line pointing down to indicate sell signal.

Source: https://learn2.trade

SOLANA REACHES OVERSOLD REGION AS THE ALTCOIN MAKES DEEPER CORRECTION

Solana has fallen to the low of $87
SOL/USD has reached the oversold region

Solana (SOL) Current Statistics
The current price: $90.94
Market Capitalization: $46,528,296,188
Trading Volume: $4,555,783,625
Major supply zones: $280, $300, $320
Major demand zones: $160, $140, $120

Solana (SOL) Price Analysis January 24, 2022
Solana’s (SOL) price has fallen significantly to the low of $87 as the altcoin makes deeper correction. The crypto’s price corrected upward but faces resistance at $104. If the crypto is facing resistance at $104, it implies that the selling pressure will resume to the downside. Presently, the altcoin is fluctuating between $80 and $104 price levels. The crypto will resume trending when the range-bound levels are breached. For instance, if the bears break below the $80, the market will decline to $68 low.

Solana Reaches Oversold Region as the Altcoin Makes Deeper Correction

Solana (SOL) Technical Indicators Reading
Solana is at level 23 of the Relative Strength Index for period 14. The cryptocurrency is seriously in the oversold region. This is an indication that the current downtrend has reached bearish exhaustion. SOL/USD is below the 20% range of the daily stochastic. It indicates that the market has reached the oversold region of the market. Since December 29, the altcoin has been trading in the oversold region of the market. The 21-day SMA and 50-day SMA are sloping downward indicating the downtrend.

Conclusion
Solana is in a downward move as the altcoin makes deeper correction.. The current price action and Fibonacci tool analysis are closely related. The cryptocurrency has reached the oversold region and there is a possibility of price reversal. Meanwhile, on December 14 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Solana will fall to level 1.618 Fibonacci extensions or $79.34.

Solana Reaches Oversold Region as the Altcoin Makes Deeper Correction
SOL/USD – Daily Chart


Source: https://learn2.trade

USOIL REACHES AN OVERBOUGHT REGION, MAY FACE REJECTION AT $85.39


Key Resistance Levels: $80.00, $84.00, $88.00
Key Support Levels: $66.00,$62.200,$58.00

USOIL (WTI) Long-term Trend: Bullish
USOIL has been in an uptrend but it may face rejection at $85.39. The index is retesting the previous high of $85.39. In previous price action in October and November, the bulls failed to break above the overhead resistance. Meanwhile, on December 9 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that WTI will rise to level 2.0 Fibonacci extension or $81.61. From the price action, buyers have broken above the Fibonacci extension and have reached a high of $84.


USOIL – Daily Chart
Daily Chart Indicators Reading:
USOIL is at level 70 of the Relative Strength Index period 14. It indicates that the index is in the overbought region of the market. The current uptrend is likely to face rejection at the recent high. Besides, sellers will emerge to push prices down. The index price is above the 21-day SMA and 50 –day SMA which indicates a further upward move.

USOIL (WTI) Medium-term bias: Bullish
On the 4-hour chart, the index is in an uptrend. WTI price has broken above the resistance at level 83.00. Meanwhile, on December 12 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that WTI will rise but reverse at level 1.278 Fibonacci extension or $84.22.

USOIL Reaches an Overbought Region, May Face Rejection at $85.39

4-hour Chart Indicators Reading
The index is above the 80% range of the daily stochastic. The market has reached the overbought region. Sellers are likely to emerge to push prices down. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. The uptrend will continue to the upside as long as price bars are above the moving averages.

General Outlook for USOIL (WTI)
USDOL has reached the overbought region of the market but may face rejection at $85.39. The current uptrend is likely to terminate at the previous price level of the market. WTI is trading at $84.39 at press time.

Source: https://learn2.trade

ANNUAL FORECAST FOR EURJPY (2022)

EURJPY Annual Forecast – Price Is Set to Scale New Heights With a Bullish Flag Formation
The annual forecast for EURJPY is for it to scale new heights, having conformed to a bullish flag formation. The bullish flag formation, an offshoot of the triangle pattern, began towards the tail end of 2020 as bulls began to exercise dominance in the market. The market began to recover from the 116.910 support level in May 2020. It pulled back when it first hit the upper border of its triangle pattern and surged through it at the second time of asking, thereby leading to the creation of the flag pattern.


EURJPYJPY Significant Zones
Supply Zones: 134.150, 140.650, 149.010
Demand Zones: 113.920, 116.910, 127.630

Annual Forecast for EURJPY (2022)EURJPY Long Term Plan: Bullish
A bearish impact is visible annually in the market, notably since 2013. Every time EURJPY makes a bullish move, the move is cut off prematurely and it always leads to a plunge back around the 113.920 demand level. This happened from 2013 to 2016, and then from 2017 to 2020. The result is a triangle-tapered market structure. By June 2020, the price hit the 116.910 demand level and began another ascent, but this time, it eventually broke the triangle pattern on 2021 New Year’s Day.

The flag pole was formed as the price surged from 120.920 and was stopped abruptly at 134.150. Subsequently, EURJPY began cranking through a downward channel. This continued into the year 2022. The market forecast is for an upward liquidity flow. The upward signal of the MA Cross is still very valid. Meanwhile, the Moving Average Convergence Divergence indicator is showing dwindling bullish bars. This is due to the downward ranging in the market. Its signal lines remain above the zero level.

Annual Forecast for EURJPY (2022)EURJPY Medium Term Plan: Bearish
In early 2022, prices are set to drop after hitting the upper border of the ranging channel. The MA Cross is directed down-sideways to show the undulating nature of the current market. The same can be said for the MACD indicator.
The annual forecast is towards the end of the year 2022 into early 2023 when the bullish flag pattern is anticipated to drive the market upward towards 140.650.

Source: https://learn2.trade

ANNUAL FORECAST FOR GBPJPY (2022)


GBPJPY Annual Forecast – Bulls Have the Bias in a Ranging Market
The annual forecast for GBPJPY points to a bias in the bulls’ favor. The market has been in a ranging pattern as bulls and bears tussle for preeminence. Despite the bears’ being more aggressive, bulls are favored to gain preeminence. This is chiefly due to a very strong support level, which is at 132.980 and extends to 128.620. Currently, the price has risen from the support level to test the 157.000 resistance level, intending to break through it.


GBPJPY Significant Levels
Resistance Levels: 157.000, 174.770, 193.610
Support Levels: 149.260, 132.980, 128.620

Annual Forecast for GBPJPY (2022)GBPJPY Long Term Plan: Bullish
Sellers effected a correction to the bullish rise that happened from mid-2012 to mid-2015. The market got rejected at 193.610 and it took about a year to fall back to the 132.980 strong support zone. A bullish bounce occurred after that, but a limit was placed on the market at 157.000. This helped the seller to keep pounding against the strong support unsuccessfully. The bulls have stepped back to lift the market to 157.000.

The market rose from the support level in November 2020 and violated the 144.110 middle-range line. By May 2021, the price had touched below the 157.000 resistance and was rejected. Price, however, keeps recovering from the 149.260 level to retest the resistance. This continues into the year 2022. The RSI (Relative Strength Index) influences the annual forecast in the bulls’ favor as it has remained above the mid-level since 2020.

Annual Forecast for GBPJPY (2022)GBPJPY Medium Term Plan: Ranging
On the weekly chart, the market is essentially in equilibrium, as shown by the EFI (Elders Force Index) power line, which is almost parallel with the zero line. The RSI indicator still predisposes the market in the bulls’ favor as its line remains in the bulls’ half. The market is set to drop to 149.260 again to continue ranging, but the forecast is that GBPJPY will eventually break upward towards 167.830.


Source: https://learn2.trade