This correction is healthy because it clears out crowded long positions and allows the market to rebalance after a sharp expansion. Without these pullbacks, price action becomes fragile and prone to deeper reversals.

$LAB just experienced a long liquidation of $4.8749K around $0.15655, and I’m watching this area very closely. This zone stands out as a previous support region where price spent time consolidating before the last push higher. When liquidations hit directly into an old base, it often signals exhaustion from sellers rather than the start of a new downtrend.

Technically, this level also aligns with a key retracement of the recent impulsive move. We’ve seen multiple reactions and pauses here in the past, which tells me this zone carries real weight. I’m watching how price holds because they’re building strength instead of breaking down aggressively. If this level holds, the bullish structure remains valid.

Trade setup I’m watching: Entry Zone: $0.152 – $0.158

Target 1: $0.173

Target 2: $0.192

Stop Loss: $0.145

I’m staying patient and letting the market confirm. If this level holds and price starts to compress or print higher lows, that’s my signal. They’re building strength in this area, and if this level holds, the next continuation higher can unfold with much better structure and conviction.