LAB Slides 21% as Shorts Throw a 71% Bearish Party Nobody RSVP'd To 📉

LAB fell 21.6% to $12.09 over the past 24 hours as selling pressure intensified, with trading volume declining 23.06% to $50 million. The pullback came after the token failed to hold above the $17.78 resistance zone, a level that has repeatedly capped recent advances. Price retreated toward $12.44, remaining above the major support region around $9.15, though the broader market structure reflected reduced buyer participation following the latest rejection.

Binance derivatives data showed traders positioning heavily for further downside. Long accounts represented only 28.69% of top trader positions, while short accounts accounted for 71.31%. That imbalance drove the Long/Short Ratio down to 0.40, underscoring a strong bearish bias among experienced market participants even after the 21% decline.

The Relative Strength Index printed 54.53, with its moving average at 56.28, placing both readings near neutral territory. These values indicated that momentum had not shifted decisively to sellers despite the price drop, leaving the market in a relatively balanced state from a technical standpoint.

LAB's OI-Weighted Funding Rate remained positive at 0.0127%, showing that long traders continued paying a premium to maintain their positions. That figure contrasted with the short-heavy positioning on Binance and signaled that some participants still anticipated a recovery. However, the funding rate had moderated from earlier spikes in the month, suggesting bullish conviction had cooled as LAB moved away from its recent highs.

A move back toward $17.78 would open the door to another test of resistance, while continued weakness could expose the $9.15 support zone as the next major level for traders to monitor.