ZachXBT Warns of Manipulation Risks in LAB Token
- Token Manipulation Warning: ZachXBT describes the LAB token chart as a typical trap for retail investors, particularly following the withdrawal of 100 million LAB tokens worth $514 million from Bitget, indicating signs of market manipulation.
- Liquidity Risk: He highlights that the value of the LAB token was deliberately inflated, akin to locking up over 90% of a low-liquidity memecoin, suggesting that the token's price could collapse if holders sell, posing significant risks to investors.
- Exchange Management Accountability: ZachXBT accuses Shawn Liu, the head of operations at Bitget, of enabling fraudulent activities, asserting that he played a complicit role in the manipulation of the LAB token, which exacerbates market distrust.
- Market Manipulation Allegations: He further claims that Bitget is part of a “Chinese-backed exchange cartel” that facilitates token manipulation schemes, marking the most aggressive public attack on a centralized exchange to date, which could attract regulatory scrutiny.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 6 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR 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, MAJOR 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 $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0401 | 0.0507 | 0.0593 | 0.0699 | 0.0785 | 0.089 | 0.0977 |
| Fibonacci | 0.0507 | 0.058 | 0.0625 | 0.0699 | 0.0772 | 0.0817 | 0.089 |
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