I assume you are asking if we can tell if it is in a stable circular orbit.
T = period of orbit
r = radius of orbit
RE = radius of earth
h = height of orbit above surface of the earth
M = mass of earth
r = RE + h
For a given height,
(E1) v = 2πr/T = 2π(RE + h)/T
In a stable circular orbit,
(E2) v = √(GM/r) = √[GM/(RE + h)]
Compute v from equations E1 and E2 and compare values. If E1 gives a higher v than E2, the object is moving too fast to be in a circular orbit, and will rise in altitude. If E1 gives a lower v than E2, the object is moving too slow, and will lose altitude.