Quick update on chart #LAB (hourly timeframe) ๐๐
For those tracking coin $LAB
, the price has currently broken below the MA(7) average, heading towards testing crucial support at the MA(25) close to the 7.04 levels.
The Relative Strength Index (RSI) has dropped to the 53 zones after being overbought, which means a solid and healthy correctionโan encouraging sign that this pullback is not a crash, but rather a retest of support. Holding above $7 is key for a swift return to test the previous high. Watch it closely! ๐๐
#TechnicalAnalysis #LAB #crypto #BinanceSquare
For those tracking coin $LAB
, the price has currently broken below the MA(7) average, heading towards testing crucial support at the MA(25) close to the 7.04 levels.
The Relative Strength Index (RSI) has dropped to the 53 zones after being overbought, which means a solid and healthy correctionโan encouraging sign that this pullback is not a crash, but rather a retest of support. Holding above $7 is key for a swift return to test the previous high. Watch it closely! ๐๐
#TechnicalAnalysis #LAB #crypto #BinanceSquare