Why is AB crypto’s price up? USD1 integration, demand and more…
Some altcoins rebounded despite broader market weakness, with AB among the strongest gainers.
AB Chain’s native token rose about 12% over the past 24 hours. Trading volume jumped over 53%, per CoinMarketCap data.
AB revisited May demand
After debuting in March, AB crypto price action entered into a pullback, which ended towards the end of May. AB went to make a new high in mid-June and then entered a bear market structure.
At press time, AB traded near its May lows, where buyers triggered a brief rebound. Even so, mid-term momentum still favored sellers.
AB had declined steadily since its June highs. Profit-taking followed the bounce, with Cumulative Volume Delta showing dominant sell pressure.
Short positions exceeded longs…
