The currency $LAB continues to prove its strength in the market, recording a significant jump to reach levels of 15.54 USDT, reinforcing the dominance of buyers at the moment.
📊 Technical analysis of the current scene:
Buying momentum: As seen in the attached chart, the price continues to diverge from the moving averages (MA7, MA25, MA99), which is a classic indicator of a "Strong Trending Market."
Upcoming resistance: After breaking the 14-dollar levels, all eyes are now on testing the next psychological resistance levels, as there are no clear historical resistance levels nearby on the chart, meaning the price is in a "Price Discovery" phase.
Support levels: * Initial support: The 13.50 - 13.90 USDT zone (which was previous resistance).
Key support: The 11.00 - 11.50 USDT zone (currently considered the main wall of defense).
📉 Predictions (between bullish and bearish):
Bullish scenario: As long as the price trades above the short-term moving average (MA7), the upward trend remains dominant. Any daily close above the 16-dollar levels could open the door for further gains.
Bearish scenario (correction): Caution is advised; vertical rises like this are often followed by sharp "profit-taking". A drop below the 13.50 level could be an early signal for the beginning of a price correction towards the moving averages to reduce the "price gap."
#ابوحربي
📊 Technical analysis of the current scene:
Buying momentum: As seen in the attached chart, the price continues to diverge from the moving averages (MA7, MA25, MA99), which is a classic indicator of a "Strong Trending Market."
Upcoming resistance: After breaking the 14-dollar levels, all eyes are now on testing the next psychological resistance levels, as there are no clear historical resistance levels nearby on the chart, meaning the price is in a "Price Discovery" phase.
Support levels: * Initial support: The 13.50 - 13.90 USDT zone (which was previous resistance).
Key support: The 11.00 - 11.50 USDT zone (currently considered the main wall of defense).
📉 Predictions (between bullish and bearish):
Bullish scenario: As long as the price trades above the short-term moving average (MA7), the upward trend remains dominant. Any daily close above the 16-dollar levels could open the door for further gains.
Bearish scenario (correction): Caution is advised; vertical rises like this are often followed by sharp "profit-taking". A drop below the 13.50 level could be an early signal for the beginning of a price correction towards the moving averages to reduce the "price gap."
#ابوحربي