🔻 @Lagrange Official $LA Faces Sell Pressure Despite Buyback Plans❗
Lagrange (LA) fell 3.6% in 24h, as post-listing profit-taking, weak altcoin sentiment, and failure of oversold signals to trigger a rebound weighed on price action.
🧾 Despite the July 14 buyback proposal by the Lagrange Foundation, investor sell-off continues.
📉 RSI (7-day) at 29.21 suggests oversold, but no clear reversal yet.
⚠️ BTC dominance at 61.48% puts pressure on altcoins like LA.
📉 Key Breakdown:
1️⃣ Post-Listing Exhaustion:
After Binance listing on July 9, LA followed a classic “sell the news” pattern, losing over 22% in the week that followed.
• July 14 buyback plans failed to reverse sentiment.
• Daily volume down 8.59% to $14.9M signals weakening interest.
• Price is down 77% from the $1.72 ATH set on June 6.
2️⃣ Technical Signals:
• Price hovers near critical $0.318 support (Fib 78.6%).
• RSI: 29.21 (oversold, no bounce).
• MACD Histogram: +0.0103 shows weak bullish divergence.
• 30-day SMA at $0.385 remains key resistance.
LA’s drop stems from post-Binance fatigue, thin altcoin liquidity (as BTC dominance hits 18-month highs), and a delayed reaction to the buyback plan.
The key question: Can LA stabilize in the $0.31–$0.32 Fib zone long enough to benefit from either Foundation intervention or renewed ZK-proof sector interest?
