Our Lucky Block price prediction is not looking great as the price has dipped to fresh lows. On Thursday, Lblock price plummeted to the $0.00078 level amid an unprecedented sell-off in the crypto markets. At the time of writing, the price is trading at $0.00107, around 45% up from yesterday’s lows.
The global markets are in turmoil since the recent FOMC meeting. The rate hike announcement has sent most tech stocks and cryptocurrencies into a downwards spiral. Nevertheless, crypto markets seem to be recovering after the Bitcoin price dipped below the $25,000 psychological level. This relief rally has also positively affected the Lucky block crypto price.
As per other Lucky Block news, Head of Product of the platform held an AMA session on the official Telegram channel. This presented an opportunity for the Lblock holders to interact directly with the team to learn about the project’s long-term vision. The official Twitter handle of the project has also posted videos of several notable figures endorsing the project.
These include the rapper Jidenna, Scotty Nguyen (Poker Player) and Steven Quezada (Actor). Despite the hype and celebrity endorsements, many are still sceptical about the fundamentals of the project and consider it a high-risk investment. The coin is still not available on any major centralized exchange. However, it is trading on decentralized exchanges like Pancakeswap.
Most of the real-world lotteries are geographically restricted and restrict most participants. The project promises to remove the barriers by allowing anyone to participate in worldwide lotteries on its dapp. Lucky Block is currently available on Pancakeswap as a BEP-20 asset.
Technical analysis of Lucky Block shows that the price has bounced off its Feb lows. Nevertheless, the price is still trading below the downwards trendline, and another dip in Bitcoin price may trigger a waterfall.
Any bullish Lucky Block price prediction seems to have been invalidated as it has made lower lows on the daily timeframe. Price needs to close above$0.004 level to flip the investor sentiments bullish. This seems quite difficult in the current scenario as Bitcoin price is hanging by a thread.
This post was last modified on May 13, 2022, 16:43 BST 16:43