AB's downtrend increases due to market manipulation
AB has experienced a sharp decline, largely due to market manipulation aimed at achieving lower entry prices.
Technical indicators suggest that selling pressure may increase in the coming trading sessions.
Over the past 24 hours, AB [AB] has lost 17% of its value, erasing some of its monthly gains, which now stand at around 70%. This drop clearly reflects distribution signals, indicating that bears are taking more control of the market. The crypto market has been volatile, and this move could be part of a larger distribution strategy, in preparation for further volatility.
The break of the ascending support line on the 4-hour chart has lost the dominant structure of the market, causing the uptrend to weaken significantly. The long-tailed upper candle on June 16, which appeared near this support level, clearly shows the market's resistance to the downside. It is possible that traders are deliberately pushing the price down to trigger limit buy orders near the old breakout point, creating bull or bear traps to manipulate market sentiment.
Source: TradingView
The negative trend becomes more evident as the “Death Cross” forms.
Additionally, a wave of bearish momentum is underway with selling pressure mounting. At the time of writing, a Death Cross pattern has appeared on AB’s daily MACD, suggesting that bears may be in control of the upcoming price trajectory. This is a strong warning sign of a deeper decline, as the MACD and signal lines cross into negative territory, fueling an exponential sell-off.
Source: TradingView
This is consistent with the distribution phase that has started in the last 24 hours. The market volume has reached -454 billion USD, a clear negative signal, indicating that investors tend to sell more than hold. If this trend continues, AB is expected to continue to decline in price and lose value in the coming time.
Can buy and sell signals stop AB's decline?
Interestingly, 77% of CoinMarketCap voters still expect prices to bounce back. However, prices do not react on faith alone. The cryptocurrency market is a place where sentiment and big-bet strategies come into play, especially during periods of extreme volatility like the current one.
Source: CoinMarketCap
However, as of June 21, the sentiment has begun to turn positive again, although the price has still broken the $0.012 level. The market is currently in a state of conflict between optimism and strong selling pressure, creating complex trends that investors need to closely monitor to accurately analyze possible fluctuations in the coming period.
Source: https://tintucbitcoin.com/abcrypto-giam-17-do-death-cross/
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