AB Crypto Plunges 17% as Death Cross Forms Despite Bullish Votes
AB crypto (AB) dropped 17% within 24 hours, erasing part of its 70% monthly rally. The sell-off followed a breach of the ascending support line on the 4-hour chart, suggesting possible market manipulation aimed at filling limit buy orders near $0.01002. A death cross appeared on the daily MACD, signaling further downward pressure if the MACD and signal lines move into negative territory. Distribution volume hit –454 billion, indicating stronger sell sentiment among investors. Despite technical bearish signals, 77% of CoinMarketCap voters remain optimistic about a rebound, keeping community sentiment elevated even as prices continue to fall.
Bearish
The formation of a daily MACD death cross and the break below key support indicate rising selling pressure for AB crypto. Historical patterns show that death crosses often precede short-term declines as momentum shifts from buyers to sellers. The large negative distribution volume reinforces this bearish outlook, suggesting that investors are exiting positions. In the short term, AB is likely to face continued downward pressure until it reclaims support or positive catalysts emerge. In the long term, sustained community optimism (77% bullish votes) may limit losses if fundamental developments restore confidence, but technical indicators must first reverse to signal a lasting uptrend.