📊 Potential Scenario | Wave Update for $LAB 📊
We follow the price action of the LAB/USDT pair on the daily timeframe, where the price is experiencing a sharp drop and strong selling pressure within a bearish wave. We are now watching the end of wave (3) and the start of an upward correction in wave (4) according to two scenarios:
1️⃣ First Scenario (quick rebound)
Behavior: a direct corrective rebound upward for wave (4) from the current support zones to retest nearby resistance levels, followed by the last drop in wave (5).
2️⃣ Second Scenario (sideways correction)
Behavior: an extended and complex sideways fluctuation for wave (4) that takes longer to accumulate and distribute between support and resistance, before breaking the low again for wave (5).
📌 Digital Summary:
Current monitoring zones: levels 0.4504 - 0.4076 (temporary low of wave 3).
Overall trend: the upcoming rebound is only to form wave four, and the final target remains the completion of the bearish cycle with wave (5) to register new lows.
Which of the two scenarios do you think is closest to playing out? Share your analysis in the comments!
#Crypto #ElliottWave #Trading #LAB
We follow the price action of the LAB/USDT pair on the daily timeframe, where the price is experiencing a sharp drop and strong selling pressure within a bearish wave. We are now watching the end of wave (3) and the start of an upward correction in wave (4) according to two scenarios:
1️⃣ First Scenario (quick rebound)
Behavior: a direct corrective rebound upward for wave (4) from the current support zones to retest nearby resistance levels, followed by the last drop in wave (5).
2️⃣ Second Scenario (sideways correction)
Behavior: an extended and complex sideways fluctuation for wave (4) that takes longer to accumulate and distribute between support and resistance, before breaking the low again for wave (5).
📌 Digital Summary:
Current monitoring zones: levels 0.4504 - 0.4076 (temporary low of wave 3).
Overall trend: the upcoming rebound is only to form wave four, and the final target remains the completion of the bearish cycle with wave (5) to register new lows.
Which of the two scenarios do you think is closest to playing out? Share your analysis in the comments!
#Crypto #ElliottWave #Trading #LAB