LAB Token Plummets 70% After All-Time High, Market Shocked

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 5 hours ago

TOKEN+1.79%

LAB-43.82%

Should l Buy TOKEN?

Crash Trigger: The LAB token plummeted 70% after reaching an all-time high of $3.64 due to a 'sell the news' event following the launch of the Lab Network mobile app, raising urgent concerns among retail investors about the project's long-term viability.
Market Reaction: Following the crash, LAB's 24-hour trading volume surged to $410 million, indicating a strong market response to the selling pressure and reflecting investor panic regarding future prospects.
Technical Imbalance: Prior to the crash, LAB's Relative Strength Index (RSI) peaked at 85.25, entering overbought territory, and the lack of fresh capital to sustain the price surge rendered the 'glass floor' extremely fragile.
Liquidity Crisis: With LAB offering perpetual futures at up to 40x leverage, the initial price dip triggered forced liquidations, exacerbating the downward spiral and severely undermining market confidence in the token.

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Technical Analysis for TOKEN

Technical Sentiment Analysis for TokenFi (TOKEN). As of , TokenFi (TOKEN) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 3 indicators are flashing buy, while 1 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for TOKEN 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, TOKEN 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 $-.

TokenFi (TOKEN) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00095	0.00192	0.00254	0.00351	0.00413	0.0051	0.00571
Fibonacci	0.00192	0.00253	0.0029	0.00351	0.00412	0.00449	0.0051

About TOKEN

TokenFi aims to simplify the crypto and asset tokenization process and eventually become the foremost tokenization platform in the world.The tokenization industry is projected to be a $16 trillion industry by the year 2030. BlackRock, the world’s biggest institutional investor with $10 trillion of assets under management, strongly believes in the industry’s potential, which they call 'the next evolution in markets”.TokenFi is launched by the highly experienced and connected Floki team that launched the popular Floki token that went to an ATH valuation of $3.5 billion. They will be leveraging this same experience to make TokenFi the number one tokenization platform in the industry.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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