The broader crypto market received a boost from a risk-on sentiment following the US-Iran Memorandum of Understanding to reopen the Strait of Hormuz, setting a positive backdrop for altcoins. Among the standout performers, LAB token extended its rally for a sixth consecutive day, climbing approximately 57% over the past week as whale buying, technical momentum, and renewed ecosystem interest pushed the token back toward the $14 level.
Data from CoinGecko showed LAB trading near $13.91 on June 17, up nearly 40% in 24 hours, recouping losses from a steep correction off its June 2 all-time high of $27.30. Market commentator Alastar noted that whale wallets added roughly $540,000 in long positions within an hour. The whale long-to-short ratio stood at 260.67%, with total long exposure of $27.58 million versus $10.58 million in shorts. The $13 region was flagged as a key level where larger holders might take profits, but LAB successfully defended support between $9–$10, fueling a rapid recovery. Technical indicators improved: the daily RSI near 60.7 and ADX near 46 pointed to strengthening momentum, while the 4-hour chart showed the price above all major EMA periods, with the 20 EMA leading the 50, 100, and 200 EMAs.
However, LAB still trades roughly 50% below its all-time high, with resistance at $15–$16 and $20 overhead. Concerns linger around token distribution and future unlocks, as early wallets moved tokens to exchanges and approximately 282 million tokens remain locked.
Meanwhile, analysis for other top altcoins painted mixed technical pictures. Venice Token (VVV) surged from $1.70 in January to $16, driven by AI token interest and OpenAI/Anthropic IPO anticipation, with platform traffic nearing 10 million monthly visits and ongoing token burns. The daily chart shows a bullish hold above the 100-day MA but also a head-and-shoulders pattern with a neckline at $12.83 and a bearish RSI divergence. Key levels to watch are support at $12.83 and resistance at $21.4; a break above could target $30, while a drop below signals further decline.
Worldcoin (WLD) has more than doubled from May lows to $0.68, lifted by Sam Altman’s OpenAI IPO filing and hopes of wider World ID integration (Tinder, Okta, Shopify). A planned tokenomics revamp will slash emitted tokens by 43%. The daily chart shows a cup-and-handle pattern above the 100-day MA with rising RSI and volume, suggesting a potential move toward the psychological $1 level.
Stellar Lumens (XLM) also broke out, reaching $0.2256 after spending months in a tight range. The break-and-retest pattern at $0.1833, combined with a bullish RSI and reclaiming the 100-day MA, sets up a bullish target of $0.30 (35% upside) as long as support at $0.1833 holds.
