- Cryptocurrency market experiences over 20% drop in prices.
- ABBC Coin aims to secure spot on top 100 cryptos list.
- ABBC’s bullish cycle may lead to surge in price towards $0.29.
The recent market downturn has resulted in a significant drop of over 20% in the prices of most cryptocurrencies within the past 24 hours. However, ABBC Coin (ABBC), an altcoin, is poised to capitalize on this trend by potentially securing a spot on the top 100 cryptos list in the coming days.
As of the time of publication, the value of the altcoin has experienced a 7% decrease within the last 24 hours, currently resting at $0.1806, as reported by CoinMarketCap. ABBC’s overall market worth is approximately $257.16 million, leaving it a mere $16 million shy of securing a spot on the coveted Top 100 list.
To secure a spot in the coveted top 100 list, the altcoin must surpass the impressive market cap of 1inch Network (1INCH), which currently stands at approximately $259 million. However, the journey to the top continues. The altcoin will then need to overcome the market caps of Convex Finance (CVX) and MX TOKEN (MX), estimated to be $261.5 million and $273.8 million, respectively. It’s a challenging climb, but it’s certainly achievable with determination and strategic planning.
From a technical perspective, the altcoin has been experiencing a promising bullish cycle in the medium term. This was triggered by the 9-day EMA line crossing bullishly above the 20-day EMA line on May 30th, 2023. As a result, ABBC’s price surged from a low of $0.10122 to a high of $0.24460 on June 2nd, 2023. Although it has since been retraced, the key 9-day EMA line remains strongly supported.
If ABBC’s price stays above the 9-day EMA line for the next 48 hours, it could surge towards the mentioned $0.24460 mark in the upcoming week. This level may then transform into strong support for the altcoin. If ABBC successfully flips the $0.24460 resistance into support, it could pave the way for a smooth ascent towards $0.29 over the next few weeks.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
