The chances of Lab [LAB] recovering are fading by the day. In the past 24 hours, LAB crashed by more than 13% at press time, extending its previous day’s downtrend.

This drop was driven by high selling activity, with daily volume spiking by 335% to around $50 million. The volume-to-market cap ratio was at 81%, reinforcing extreme trading activity, massive liquidity, and heightened speculative interest.

What was driving this high-selling activity?

LAB faces rejection at a KEY resistance level

The selling pressure was first induced by a technical price rejection. Since mid-July, LAB has been bouncing between $0.1264 and $0.1726. However, the breakdown occurred at the mid-level of the sideways range at $0.15.

At the time of writing, …