Don’t see that wick near $9 and instantly call it the next destination... sometimes it is just the footprint of a painful liquidity sweep!
LAB still looks attractive. price recovered, short MA is holding, RSI is not overheated. but that upper wick near $9 is the loudest part of this chart.
why?
because it says buyers rushed in aggressively. but it also says sellers were even colder. price pushed close to $9, then got rejected fast. that is not a tiny shakeout. that is supply. that is liquidity. that is where FOMO got punished!
honestly, what I see here is not a blind wick-fill story. markets are rarely that kind.
to revisit $9, LAB needs a clean reclaim, stronger structure, and real absorption from buyers. a long wick is not a promise. a long wick is a warning!
the best question now is simple: when price touches that zone again, will buyers still have enough strength?
LABUSDT
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