⚠️Big move coming👇🏻
$LAB's price action is like the "boiling frog" strategy to lure in the bulls🔥
After dropping from 7.77, it has been ranging between 4-5 bucks. It looks like it's not going down anymore, with the MA30 still holding the price, and many folks think, "It's stabilized, time to buy the dip!" But taking a closer look
The trapped longs at the highs haven't budged: the funds that entered above 7 are still stationed at the top, and every time it bounces near 5, it gets smashed down again. The selling pressure above is intense.
Volume has already fled: when they were pumping it, volume was through the roof, but now during this consolidation phase, volume has shrunk to nothing, indicating that the big players are already out, leaving retail traders to battle it out.
Tomorrow's unlock: 0.15% of tokens are set to unlock, which doesn't seem like much, but remember, this is happening while the price is consolidating and support is weak. Once those unlocked tokens hit the market, the already fragile balance will be shattered, likely triggering a cascade of sell pressure.
This current consolidation is the "bull trap." The big players aren't pushing it up, nor are they driving it down hard; they want retail traders to feel like it's not going down anymore and jump in. Once they accumulate enough tokens, the unlock will hit, and it'll lead to a waterfall of selling with no support.
$LAB's price action is like the "boiling frog" strategy to lure in the bulls🔥
After dropping from 7.77, it has been ranging between 4-5 bucks. It looks like it's not going down anymore, with the MA30 still holding the price, and many folks think, "It's stabilized, time to buy the dip!" But taking a closer look
The trapped longs at the highs haven't budged: the funds that entered above 7 are still stationed at the top, and every time it bounces near 5, it gets smashed down again. The selling pressure above is intense.
Volume has already fled: when they were pumping it, volume was through the roof, but now during this consolidation phase, volume has shrunk to nothing, indicating that the big players are already out, leaving retail traders to battle it out.
Tomorrow's unlock: 0.15% of tokens are set to unlock, which doesn't seem like much, but remember, this is happening while the price is consolidating and support is weak. Once those unlocked tokens hit the market, the already fragile balance will be shattered, likely triggering a cascade of sell pressure.
This current consolidation is the "bull trap." The big players aren't pushing it up, nor are they driving it down hard; they want retail traders to feel like it's not going down anymore and jump in. Once they accumulate enough tokens, the unlock will hit, and it'll lead to a waterfall of selling with no support.