If LABS can successfully break out of the falling wedge pattern it has been in since December and maintain a weekly close above it with a healthy consolidation period in that area, there is a potential for a rally towards the .005 region in the coming months. A favorable setup would involve RSI dropping below 30 and Bollinger Bands squeezing, indicating a possible expansion to the upside. Of course, this scenario assumes that BTC continues its upward trajectory, as it can greatly influence the broader market dynamics.
DYOR. Not financial advice.
DYOR. Not financial advice.
Comment:
Labs is on the 3rd week of consolidation outside of the wedge indicating possible validation for my analysis. There has also been a significant rise in Volume. Not financial advice.