American Bitcoin Corp. (NASDAQ:ABTC) slipped to $4.74 on Thursday even as Eric Trump and Donald Trump Jr. boosted the company's Bitcoin (CRYPTO: BTC) holdings, widening the gap between rising treasury conviction and weakening price momentum.
Trump Brothers Expanded Bitcoin Holdings In Late October
American Bitcoin announced late October that it added 1,414 Bitcoin worth about $163 million.
The purchase lifted its total holdings to 3,865 Bitcoin, valued near $446 million at the time.
The company said the increase came from strategic acquisitions and mining output.
ABTC jumped more than 11% on that day and traded above $6.20.
Shares had struggled below $6 before the news due to wider crypto market weakness.
Additionally, the update reinforced ABTC's aggressive treasury model during a volatile period.
Executive chairman Asher Genoot said the firm reduces its average cost by producing Bitcoin directly.
He said this gives the company an advantage over those that buy only from the open market.
ABTC Now Sits In A Tightening Triangle
American Bitcoin Corp. Price Analysis (Source: TradingView)
ABTC trades near $4.74 as the pattern compresses between rising support and falling resistance.
The stock sits just above an ascending trendline that has held since May.
A close below this line exposes the large demand block between $3.20 and $3.80.
The 20-day EMA sits near $5.14 and remains the first ceiling for buyers.
The 50-day and 100-day EMAs at $5.67 and $5.71 have capped every bounce since October.
The 200-day EMA at $6.23 marks the top of the broader structure.
The down-sloping resistance line has produced lower highs since September, which creates a narrow compression zone that often precedes sharp moves.
The RSI sits near 41 and shows mild weakness. It is not oversold, but it signals soft demand and slow participation.
Also, previous recoveries started near this level, but no bullish divergence has formed.
What A Breakout Would Require
A move above $5.20 would be the first constructive signal.
That opens a path toward the 50-day and 100-day EMAs near $5.65.
A stronger breakout above $5.70 would target the 200-day EMA around $6.20.
Until then, rallies risk fading quickly. The structure still favors sellers while the stock trades beneath the moving averages.
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