- AB has seen a significant drop, largely driven by market manipulation aimed at achieving a lower entry price.
- Technical indicators suggest that selling pressure may intensify in the next few trading sessions.
AB [AB] shed 17% in the last 24 hours, wiping out a chunk of its monthly rally, which now stands at roughly 70%.
The breach of the ascending support line on the 4-hour chart broke market structure, clearly weakening bullish control.
AB bearish trend deepens amid manipulation concerns
AB’s decline on the 4-hour chart began right after it broke below an ascending support line, shattering the bullish structure.
This trendline had previously served as a base for multiple upward pushes. Once breached, price retraced toward the same zone—around $0.01002—where the rally began.
Source: TradingView
Interestingly, a long-wick candlestick formed on the 16th of June, marked near this exact level. That wick, paired with the chart’s horizontal marker, hinted at something deeper.
Some traders may be intentionally driving the price lower to fill limit buy orders resting near the earlier breakout point.
Whether coordinated or opportunistic, this drop looks less like panic and more like precision.
Death cross spotted!
An additional wave of bearish momentum is contributing to the building downward pressure.
At the time of writing, a Death Cross pattern formed on AB’s 1-day Moving Average Convergence Divergence (MACD) indicator.
This bearish signal implies that the price could soon experience a significant decline. If the MACD and signal line cross into negative territory, the fall may accelerate.
Source: TradingView
This outlook aligns with the distribution phase that began in the last 24 hours.
At press time, distribution volume in the market reached -454 billion, a substantial bearish signal that suggests investors are more inclined to sell than hold.
If this bearish trend persists, AB is likely to remain on this downward path and continue losing value.
Will bullish votes be enough to halt AB’s decline?
Interestingly, 77% of CoinMarketCap voters still expect a rebound. But price doesn’t move on hope alone.
Source: CoinMarketCap
As of the 21st of June, Community Sentiment showed optimism climbing again, even as the price broke below $0.012.
So while the crowd votes green, the market paints red.
