At the beginning of the week, we take a look at a trading opportunity that is currently emerging in the cryptocurrency market. Because in the past few days, the Lucky Block cycle has been performing throughout the broader market. With a price increase of about 65% at LBank, Lucky Block is still clearly in the black. However, lower profit taking may make a timely entry into LBLOCK attractive. The massive trading volume is particularly exciting, which means more movement in the price of the Lucky Block, which can be exploited in a targeted manner. Should you buy the Lucky Block now?
Lucky block price: Huge pump after LBank listing
After the listing of LBank last week, the price of the Lucky Block exploded. The LBLOCK token is now listed on LBank at nearly four times its height when it was listed. The latest pump actually drove the price of the Lucky Block to $0.004395 at its peak – a new all-time high. Volatility is currently high. The 24-hour low was set at $0.0020. This provides day traders with a unique opportunity to trade with high volatility and make above average profits.
Just below $0.0030, a new support was established recently that could support the price.
Strong volume on Lucky Block: Demand is increasing
A few minutes before the next CEX listing at 2pm German time on MECX, a look at the trading volume reveals a strong increase. In the past 24 hours, trading volume has increased nearly 100% to $1.5 million, according to CoinMarketcap data. Over $700,000 USD LBLOCK has been traded at LBank alone.
The Lucky Block’s new ERC-20 token, designed for short-term traders and centralized exchanges, appears to do exactly what it is supposed to: increase demand for the Lucky Block. Now short-term traders can trade LBLOCK and speculate on profits without a complex tax structure (such as the Lucky Block V1).
CEX Listings as an Opportunity for Day Traders and Swing Traders
The new ERC-20 token is designed to make the Lucky Block attractive to traders as well. In the end, it was held back by the high 12% tax on Lucky Block V1, which only benefits its long-term holders. For CEX, the regular bonuses were a thorn in the side, which made other CEX rolls difficult to get.
With the creation of Lucky Block V2 without taxes and bonuses, day traders and day traders have the opportunity to trade LBLOCK profitably. Lucky Block is showing its strength in its downsides or slightly correcting the crypto market.
If there is more volume and therefore price movement with the MEXC listing, there should be attractive opportunities.
The highest level ever in the concentration of bulls
The bulls are again taking the lead in the Lucky Block after weeks of weakness – also due to weak sentiment towards cryptocurrencies. Now it should not be enough for the LBLOCK bulls to sustainably beat the psychologically important $0.0040 price mark. Instead, they are targeting the all-time high around $0.00975. Lucky Block will be pumped to $0.01. This means that there is another upside potential of over 250%.
Slight profit taking as an opportunity, RSI neutral near term
On the hourly chart, we are currently seeing a slight profit taking and a consolidation below $0.0040. Revisiting the 24 hour high may be a buy signal as we are trading LBLOCK with stop out.
Short-term traders can see this minor lull as an opportunity when there are initial signs of a new upward movement. Because on the hourly chart, the RSI is once again in a neutral condition and should not stand in the way of the short-term bullish movement. The Lucky Block Pump can go on. Especially since the core drivers are right to bring more movement into the Lucky Block cycle.
Lucky block trading is now possible in MEXC
Today, Monday, it’s time – the Lucky Block Token will be listed on the MEXC Crypto Exchange.
As of this writing, the list is scheduled for 1:59:59 PM, and it should continue to be in high demand on the Lucky Block.
Main exchange as master teacher of Lucky Block
The listing with LBank has already been considered a key milestone for Lucky Block. But cryptocurrency exchange MEXC is a different house number in the crypto sector. After all, this is a major exchange that is in the top 20 in terms of turnover and has about six million users. If the Lucky Block Coin can generate high demand and buying pressure similar to LBank, the price potential should be much higher.
Fundamental Transformation: From Crypto Raffles to the NFT Contest Platform
However, the mainly positive news doesn’t just extend to CEX’s new listings. In addition, Lucky Block has promoted a change of image and would like to serve as a comprehensive platform for NFT competitions in the future. The concept is easy to understand: participants purchase the NFT of their choice in order to participate in the relevant raffle.
The first contests have already been announced on the website – for example, you can win a Lamborghini, 1 million USD in Bitcoin or luxury trips. It is not only with CEX Lists that officials are ready to give the Lucky Block tournament a solid foundation for more profit.