LAB's latest drop is counterintuitive: The more panic there is, the more you need to check if the sell pressure is running out.
LAB has dropped -16.50% in the past 24 hours, pulling back quite deep. Right now, the focus isn't on how much it has fallen, but whether the sell-off is nearing its end. The current price is around 11.068, with a 24h trading volume of approximately 127 million, and the increased selling pressure seems more like a concentrated release of panic trades.
Reference indicators: The 30m RSI is currently at 28.21, which has entered the oversold zone. Here, we can't directly equate oversold with a reversal; what's more important is whether the RSI can turn upwards and if the price can reclaim the short-term moving average. The 30m super trend is at 10.026800, and the current price is above it, indicating that the structure leans towards trend continuation.
The real point of contention is in the divergence: Some see further breakdowns, while others anticipate a panic recovery. I'm more interested in whether the panic sentiment has started to recover; however, even if there's a bounce, it can easily turn into a weak recovery.
At this position, don’t rush to call the bottom; the quality of the next bounce is more important than opinions.
#LAB #Alert
LAB has dropped -16.50% in the past 24 hours, pulling back quite deep. Right now, the focus isn't on how much it has fallen, but whether the sell-off is nearing its end. The current price is around 11.068, with a 24h trading volume of approximately 127 million, and the increased selling pressure seems more like a concentrated release of panic trades.
Reference indicators: The 30m RSI is currently at 28.21, which has entered the oversold zone. Here, we can't directly equate oversold with a reversal; what's more important is whether the RSI can turn upwards and if the price can reclaim the short-term moving average. The 30m super trend is at 10.026800, and the current price is above it, indicating that the structure leans towards trend continuation.
The real point of contention is in the divergence: Some see further breakdowns, while others anticipate a panic recovery. I'm more interested in whether the panic sentiment has started to recover; however, even if there's a bounce, it can easily turn into a weak recovery.
At this position, don’t rush to call the bottom; the quality of the next bounce is more important than opinions.
#LAB #Alert