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06/22 14:10看涨

LAB crypto jumps 28% – Can bulls reclaim $18 witho

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LAB crypto jumps 28% – Can bulls reclaim $18 without fresh demand? LAB crypto rallied 27.96% to $15.48 in 24 hours, far exceeding Bitcoin’s 0.97% advance, as buyers continued building momentum from the recent defense of the $12 breakout zone. The altcoin had declined by over 21% on the 20th of June, sitting at $12. Buyers were able to defend the June breakout level and, in doing so, prevented a deeper pullback.  As the price continued upward, LAB began moving up toward the 61.8% and 50% Fibonacci retracements. These retracement levels had been influencing price all month long. Traders were determining whether the decline was a short-term correction or the beginning of a longer-term trend change as the price hovered in between them. Meanwhile, the RSI moved to 61.5 after declining from overbought conditions above 75 near the $18.80 high. This shift indicates improving momentum. As a result, buyers appear to be regaining strength. Even so, volume has decreased significantly since buyers drove price to the $21.37 high. This suggests participation remains limited. Therefore, conviction is yet to fully return. For now, LAB must reclaim the $16.21 level. If buyers achieve that with stronger volume, momentum could strengthen further. Yet, the price could retest the $18.80 high. A successful breakout there could then open the path back toward the previous high of $21.37. On the other hand, resistance remains a key obstacle. If LAB fails to overcome it, the probability of a move back to $13.27 increases. Should selling pressure persist, the risk of a deeper decline toward the critical $11.07 support zone would also rise.

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