AB Dao’s native token AB crypto continues to be the talk of the town with its exceptionally well performance. The price of AB tokens has surged over 115% in the last 30 days, making it one of the best-performing cryptocurrency of this month. Moreover, with a 620% jump in its intraday trading volume, its market capitalization has risen to $985.42 million.
With this, the altcoin is currently exchanging hands at $0.015472 and is only 10.02% away from its all-time high (ATH) of $0.01729.
Investors are now beginning to question “Why is AB’s price rising?” Well there are many speculations around this, while some consider Binance Alpha Launch to play a prime role in the rally, others are considering other possibilities of the rising optimism.
AB Price Soars Over 100% in 30 Days
The AB tokens continue to build momentum with their impressive price action this month. The AB price has added approximately 6% to its portfolio in 24 hours with a trading volume of $3.29 billion. Additionally, it has soared just over 38% in seven days, suggesting a long-term positive action.
In recent times, the green volume bars have increased significantly in the daily time frame, suggesting surging bullish action for the altcoin in the market. Notably, volume spikes often show significant price action and can indicate breakouts or trend reversals. Considering this chart, the altcoin may maintain its upward trajectory this week.
The Bollinger Bands (BB) is currently near the upper band, suggesting strong bullish momentum and potential changes of a breakout of the overbought range. The BB indicator is widely used by traders as it helps to identify trends, reversals, and volatility that may lead to breakouts.
The Moving Average Convergence Divergence (MACD) indicator constantly records an uptrend above the signal line, hinting at increased buying power. Moreover, the constant rise suggests an optimistic outlook among the investors toward this project.
How High Will AB Price Rise?
If the optimism among the investors continues rising, this could result in it retesting its ATH price of $0.01729. Maintaining the price above that level could set the stage for it to head toward its upper target levels of $0.018 and $0.022 respectively.
On the other hand, a bearish reversal could trigger a major selloff. Considering such a situation, the AB coin price may plunge toward its lower support levels of $0.0140 or $0.010 this month.
Also Read: Saylor’s Strategy Adds $1B in BTC as Bitcoin Price Holds Steady
