LAB jumps 28% – Can bulls reclaim $18 without fresh demand?

LAB rallied 27.96% to $15.48 in 24 hours, far outpacing Bitcoin’s 0.97% gain. The move followed a 21% drop on June 20 that took the altcoin to $12. Buyers defended that level, preventing a deeper breakdown.

Price now sits between the 61.8% and 50% Fibonacci retracements, levels that have guided the month’s swings. The RSI climbed to 61.5 after falling from overbought territory above 75 near the $18.80 high. That shift points to improving momentum. Volume has dropped sharply since the $21.37 peak. Fewer traders are participating. Conviction is not yet back.

Liquidation data from CoinGlass shows $815,580 in total liquidations over the past day. Shorts accounted for $646,250, longs for $169,330. The imbalance tells a clear story: bearish traders absorbed most of the losses as price rebounded from $12. The rally so far has been fueled by short covering, not fresh buying.

For the move to hold, LAB needs to reclaim $16.21 with stronger volume. A clean break there would open a path to retest $18.80. A breakout above that would put $21.37 back in play. If resistance holds, the risk shifts back toward $13.27. A deeper selloff would target the $11.07 support zone.

The confirming factor is a volume spike above the 20-day average on a push through $16.21. The invalidating factor is a rejection at that level on declining participation. Without new demand, the squeeze-driven rally will fade. The next session’s volume profile will decide whether bulls have the fuel to reclaim $18.