Deep Dive
1. Technical Resistance Rejection (Bearish Impact)
Overview: ABT faced rejection at the 23.6% Fibonacci retracement level ($0.687), sliding below its 30-day SMA ($0.583). The RSI-14 (56.18) cooled from overbought territory, signaling profit-taking.
What this means: Failure to breach $0.687 triggered stop-loss orders and algorithmic sell signals. The 200-day SMA ($0.755) remains a distant resistance, reinforcing long-term bearish sentiment.
What to look out for: A sustained break above the 30-day SMA could stabilize prices, while a drop below $0.58 (July 2025 support) may extend losses.
2. Altcoin Liquidity Crunch (Bearish Impact)
Overview: The crypto Fear & Greed Index (39/100) reflects risk aversion, with altcoins bearing the brunt. Bitcoin dominance rose to 58.97%, diverting capital from smaller caps like ABT.
What this means: ABT’s 1.94% turnover ratio (volume/market cap) reveals fragile liquidity. In risk-off environments, low-turnover assets often see exaggerated downturns as traders exit positions.
3. Volume Collapse (Mixed Impact)
Overview: ABT’s 24h trading volume plunged 50.6% to $1.18M, compounding price volatility.
What this means: Thin order books magnified selling pressure. However, the volume drop could signal capitulation, potentially setting up a relief bounce if market sentiment improves.
Conclusion
ABT’s decline reflects technical headwinds and sector-wide risk aversion, exacerbated by its low liquidity profile. While project updates like AI integration and AWS partnerships show long-term potential, short-term sentiment remains fragile.
Key watch: Can Bitcoin dominance stabilize below 59% to revive altcoin demand, or will ABT retest lower support near $0.53?