Bitget Introduces U Index LAB and RIVER Contracts
Launch of New Contracts: Bitget has launched U Index LAB and RIVER perpetual contracts, expanding its derivative offerings and integrating traditional finance with decentralized finance as of October 2023.
Market Response and Trading Opportunities: The market response has been stable, with LAB and RIVER tokens seeing engagement, while the introduction of these contracts is expected to enhance leverage trading options for users on the Bitget platform.
CEO's Vision: CEO Gracy Chen emphasized that this initiative aims to bridge the gap between traditional finance and decentralized finance, reinforcing Bitget's commitment to expanding the derivatives market.
Regulatory Considerations: The cryptocurrency community is monitoring potential regulatory challenges related to perpetual contracts, although no immediate changes have been noted, and historical data suggests increased liquidity following similar launches.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for LAB
Technical Sentiment Analysis for LAB (LAB). As of , LAB (LAB) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for LAB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, LAB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
LAB (LAB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.08 | 0.0955 | 0.109 | 0.124 | 0.137 | 0.153 | 0.166 |
| Fibonacci | 0.0955 | 0.106 | 0.113 | 0.124 | 0.135 | 0.142 | 0.153 |
About LAB
About the author
