Wednesday, July 8, LAB Midday Analysis

LAB experienced a very sharp decline today, plummeting nearly 77.5% in a single day. This means a loss of almost 70% over the week, resulting in a significant drop in overall market capitalization. The market is now completely dominated by sellers.

The reason for this dramatic decline is quite straightforward. The coin had surged more than tenfold in just three months, and those who booked profits wanted to cash out quickly. Furthermore, with a large number of tokens set to unlock, everyone is worried about a massive sell-off by early investors, leading to premature capital outflows. Added to that, rumors circulating in the crypto community suggest that major players are controlling the market and distributing their holdings, further fueling panic.

Coincidentally, the tense US-Iran situation caused the market to shift toward the US dollar and gold as safe-haven assets, resulting in very low risk appetite. Altcoins that previously experienced explosive growth naturally became the first targets for selling.

From a technical perspective, indicators have now fallen into oversold territory, and all moving averages are showing a downward trend, with no signs of stabilization. Bitcoin’s price movement is inherently weak, making it difficult for LAB to rebound on its own. Even if there is a slight upward move, it would only be a temporary correction after the significant decline.

The main focus now is whether the $3 level can hold. If it fails to hold, it is likely to continue declining. Even if the price stabilizes, it is only suitable for small, short-term positions. This coin is currently in a distribution phase by major players, resulting in extreme volatility. Never use leverage; it is very easy to trigger a chain liquidation and suffer heavy losses. Therefore, stick to mainstream coins.
$LAB