LAB token has extended its rally to a sixth consecutive day, climbing approximately 57% over the past week as whale accumulation, technical momentum, and renewed ecosystem interest pushed the token back toward the $14 level.
Data from CoinGecko shows LAB trading near $13.91 on June 17, up nearly 40% in the past 24 hours and more than 57% over the previous seven days. The move follows a steep correction from its June 2 all-time high of $27.30, which had kept the token under pressure for much of early June.
Whale Activity Drives Rally
According to market commentator Alastar, whale wallets added roughly $540,000 in long positions within an hour as LAB continued its advance. Data shared by the trader shows 129 whale long positions against 85 short positions, with total long exposure reaching $27.58 million compared with $10.58 million in short exposure. The whale long-to-short ratio stands at 260.67%, while net whale buying volume during the previous hour was approximately $490,000 against about $179,000 in net selling.
Alastar identified the $13 region as a key level to monitor, noting that larger holders could begin reducing positions around that area because many long positions were already sitting on substantial unrealized profits.
Technical Indicators Improve
Recent buying activity arrived after LAB successfully defended support between $9 and $10, a zone that attracted dip buyers after weeks of selling pressure. Market participants also closed bearish positions as momentum indicators improved, helping fuel a rapid recovery from the June lows.
On the daily chart, LAB's Relative Strength Index (RSI) stands near 60.7, recovering from lower levels seen during the correction. The indicator has moved above its signal line, suggesting momentum has strengthened alongside the recent price advance. The Average Directional Index (ADX) is close to 46 on the daily timeframe, well above the 25 threshold that typically indicates a strong trend.
On the 4-hour timeframe, LAB is trading above its 20, 50, 100, and 200-period exponential moving averages (EMAs). The 20-day EMA sits above the 50-day EMA, which remains above both the 100-day and 200-day EMAs—an alignment traders often view as evidence of a developing uptrend.
Ecosystem and Speculative Interest
LAB operates as a multi-chain AI trading terminal connecting Ethereum, Solana, and BNB Chain. Community discussions have focused on the rollout of its mobile application and ongoing work tied to prediction market features, sustaining speculative interest around the project.
Despite the rally, the recovery still faces significant hurdles. LAB currently trades roughly 50% below its June peak, leaving several resistance levels between current prices and the previous top. The area between $15 and $16 stands out as the next major test. A sustained move above that range could open the door to a challenge of the $20 level. Failure to hold recent gains, however, could send attention back toward support around $13 and the rising 20-day EMA near $11.4.
Supply Concerns Remain
Questions surrounding token distribution also remain in focus. Selling pressure intensified earlier this month after on-chain observers identified early wallets transferring large amounts of tokens to centralized exchanges. Investor caution has also been shaped by the project's future token unlock schedule, with roughly 282 million tokens still locked and expected to enter circulation over time.
As of press time, LAB's six-day rally has restored bullish momentum, but whether the token can continue climbing may depend on whether buyers can absorb future profit-taking while maintaining support above recently reclaimed levels. For context on recent market dynamics, see our coverage of SIREN Token Plunges 98% as Whale Dumps 670M Tokens and PI Token Struggles at $0.10 Support.
This article is for informational purposes only and does not constitute financial advice.
