Although the crypto market has been on a retreat since June 13, AB token has been moving in the opposite direction. Over the last three days, the altcoin has surged by over 20% and more than 34% over the last seven days. This performance has seen AB become a top gainer both on the daily and weekly top gainer chart by Coingecko. 

Furthermore, the token’s resilience and great performance amid market pressure has piqued the attention of traders. But, the surge in the price of AB hasn’t happened randomly. Rather, several factors lie behind the price resilience of the AB DAO token.

AB Token Price Action

AB had been quietly consolidating for several weeks between $0.006 and $0.009. This build-up stage set the stage to a powerful breakout. Crossing through the resistance at $0.0095 and $0.011, AB token began a new bullish run. With this fresh buying momentum, the technical breakout paved the way to the present price strength.

Additionally, the daily chart on TradingView, confirms the formation of a bullish trend. AB token has been producing higher highs and higher lows that show increased upward momentum. As at press time, the AB token is trading at $0.013. 

The previously passive but soft upward sloping trend of the 200-period moving average is currently offering active support. This implies that the transition is not a mere speculation but has a solid technical foundation. AB’s bullish market structure is still intact and with buyers pushing the momentum.

AB’s technical indicators also support the bullish outlook. For instance, the Relative Strength Index (RSI) has shot to over 76.74 which indicates that the AB token is in an overbought zone. While this may ordinarily indicate a pause or reversal in momentum, in the middle of a massive rally, it might indicate sustained buying. The important thing right now is how AB continues to perform around $0.013 support zone. A strong grip around this area would offer further thrust to the price. 

What is Behind AB’s Price Resilience?

External catalysts are among the key sources of the AB token resilience. Recently, the token was listed on Binance Alpha and Gate Alpha. Listing on these two platforms has increased investor access and liquidity. Additionally, such listings tend to attract new traders and increase confidence. Besides, the AB token is already at the center of a million-dollar trading contest on Binance Alpha, which has attracted volume across the market.

Further momentum is injected by the $50,000 grand AB token airdrop on Binance Alpha, which is attracting a buzz within the community. The airdrop is stimulating wallet activity and raising token awareness. It is also usually accompanied by bullish sentiment. In the case of the AB, the community seems to be reinforcing the bullish technical momentum on the charts. 

Short-Term Outlook: Can AB Push Higher?

Moving ahead, the $0.013 support zone becomes an important area to monitor for the AB DAO token. A hold above it might yield a retest of $0.017, whilst increasing momentum might open the gateway to $0.018 or even a stretched out $0.020. 

However, should the price drop beneath the current level, a decline down to $0.011 or the 200-period average at around $0.007 can be seen. Nevertheless, AB has exceeded the expectations and market trend. Led by robust chart structure, new exchange backing, and sustained community activity, the token has shown resilience despite the plunge experienced in the broader crypto market.