Our Lucky Block price prediction has flipped bullish once again as the price has broken out of the downtrend. On 12th May, Lblock price plummeted to the $0.00078 level amid an unprecedented sell-off in the crypto markets. Nevertheless, the bulls immediately jumped in, and the price started to recover. The prices are 22.68% up since the start of the week and now trading at $0.00224.
The global markets have been in turmoil since the rate hikes by US FED. However, the announcement sent most cryptocurrencies into a downwards spiral. Nevertheless, Lucky Block crypto has shown massive strength in the ongoing slump. The price is 250% up from its 12th May low of $0.00078.
According to Lucky Block news today, the draw date is out now. This first-ever draw will take place on 31st May. All Lblock holders can take part in this draw to win $1,000,000. Therefore, Lucky blocks price prediction appears to be bullish in anticipation of the draw.
Several notable figures have also endorsed the project as per the official Twitter handle. 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 participants cannot participate in online lotteries due to geographical restrictions. However, Lucky Block promises to remove the barriers by allowing anyone to participate in its lotteries. It is currently available on Pancakeswap as a BEP-20 asset.
Lucky Block Price Prediction
Technical analysis of Lucky Block price shows that the price has broken out of the downwards trendline. Although the volume hasn’t increased that much, still there appears to be more upside. One major reason for the recent price surge is the demand for the upcoming draw.
If the draw hype continues, then the gambling crypto might hit the $0.00422 level before 31st May. However, this price increase is likely to be temporary as the coin might face intense sell pressure after the event. It is also important to note that a daily close below $0.00132 would invalidate this Lucky Block price prediction. The $0.00422 level is also in alignment with the 0.382 Fib level of the ongoing retracement.