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The latest market selloff has seen the majority of prices in the crypto market drop more than 20% over the past 24 hours. One altcoin, ABBC Coin (ABBC), may look to take advantage of the recent decline of the global crypto market cap to make its way onto the top 100 cryptos list in the next few days.
At press time, the altcoin’s price was down 7% over the past 24 hours and stood at $0.1806 as a result, according to CoinMarketCap. With its total market of around $257.16 million, ABBC is less than $16 million away from making it onto the top 100 list.
To enter the top 100 list, the altcoin will need to surpass 1inch Network (1INCH) with its market cap of approximately $259 million. Thereafter, ABBC will have to overcome Convex Finance (CVX) with its $261.5 million market cap and MX TOKEN (MX) with its estimated market capitalization of $273.8 million.
From a technical standpoint, the altcoin was in a medium-term bullish cycle after the 9-day EMA line crossed bullishly above the 20-day EMA line on 30 May 2023. This led to ABBC’s price rising from a low of $0.10122 to a high of $0.24460 on 2 June 2023. It has since retraced, but still had the support of the key 9-day EMA line at press time.
If ABBC’s price is able to stay above the 9-day EMA line for the next 48 hours, then it may look to climb back to the aforementioned $0.24460 mark in the following week before flipping this level into support. Should the altcoin’s price successfully flip the $0.24460 resistance into support, it will have a clear path to rise to $0.29 in the following couple of weeks.
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