$LAB hits a new 24-hour high. The current price is 0.04302, and the previous high was 0.0422.
After a new high, there are generally three possible moves:
① Pull back to the previous high, hold above it, then move up another step: the healthiest scenario
② Churn around the previous high: a change of hands while the market waits for direction
③ Drop straight back below the previous high and fail to reclaim it: a false breakout
For now, the price is still above the previous high. Watch to see whether it follows scenario ① or ②.
After a new high, there are generally three possible moves:
① Pull back to the previous high, hold above it, then move up another step: the healthiest scenario
② Churn around the previous high: a change of hands while the market waits for direction
③ Drop straight back below the previous high and fail to reclaim it: a false breakout
For now, the price is still above the previous high. Watch to see whether it follows scenario ① or ②.