Lucky Block all-time high break before LBank listing?

Lucky Block all time high
Lucky Block all time high

The Lucky Block price is currently $0.0029, up over 25% in the past day and approximately 10% off its previous all-time high (ATH).

LBank will open deposits for LBLOCK in approximately fifteen hours time, at 18:00 UTC+8 on Feb 10th. It will then open LBLOCK trading 24 hours after that.

It’s common for altcoins to pump in the run-up to their listing on a new exchange, often going parabolic.

Price can then sometimes correct on listing day in a ‘sell the news’ style sell-off, and go into a reaccumulation phase, before pumping again when new fundamental news is announced or expected – a ‘buy the rumor’ rally.

If price does form a parabola a good entry to ‘buy the dip’ could be the diagonal trend-line.

LBLOCK / USD Fibonacci Extension

In a Lucky Block price prediction article earlier today we drew Fibonacci levels and just over $0.005 is the 1.618 Fibonacci extension if it breaks out into price discovery and makes a new all-time high.

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Lucky Block Fibonacci Extension

1.618 Fibonacci targets can be front-run by sellers however and technical analysis (TA) isn’t exact. It may also be rejected at the previous ATH on the first attempt and form a sideways trading range, which would still be bullish.

Lucky Block is up approximately 300% in the past 7 days.

Ethereum is also leading Bitcoin, up 6% in the past day, which tends to be bullish for altcoins.

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Cryptocurrency markets are highly volatile and your investments are at risk.

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Written by Blockchain Beat

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