Eric Trump Declares He Won't Sell Amid 38% Drop in American Bitcoin Shares: 'Fundamentals Remain Unmatched'
Stock Recovery: American Bitcoin Corp. (ABTC) shares saw a modest recovery in after-hours trading after a significant drop due to the expiration of a lock-up period for early investors, including co-founder Eric Trump.
Investor Actions: Following the lock-up expiration, Trump indicated that early investors could cash in on their profits, while he himself remains committed to holding his 68.147 million shares.
Market Performance: ABTC stock experienced volatility, initially dropping over 50% during regular trading but rebounding by 4.57% in after-hours trading, closing at $2.30.
Company Overview: American Bitcoin, a subsidiary of Hut 8 Corp., holds a strategic Bitcoin reserve of 4,004 BTC, valued at approximately $372 million, and began trading on Nasdaq in early September.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
About the author
