Network upgrades, liquidity mining and lucrative shopping reward programs back the strong rallies seen in FTM, AAVE and ABBC.With the recent rally, Ether’s market cap has overtaken platinum and PayPal to become the 32nd most valuable asset in the world, according to data from CompaniesMarketCap.
U.S.-based Buyaladdin tweeted on April 22 that it will conduct an event for the ABBC Coin (ABBC) in May where winners will be allowed to purchase $100 worth of items with one ABBC coin. This seems to have triggered a buying spree in the coin, launching its current up-move.
The moving averages have been crisscrossing each other without a clear sense of direction, indicating the range-bound action may continue for a few more days. The price may now correct to the moving averages and if this support cracks, a drop to $320 is possible. This view of a consolidation will invalidate if the bulls push and sustain the price above $489. If that happens, the pair could rally to $581.67 and then to the pattern target at $698.