$API3 /USDT: Bullish Momentum Builds as Key Resistance Breaks
The API3/USDT pair has shown remarkable strength, surging by 41.83% to $1.241, as seen in the recent 1-week chart on Binance. This breakout has caught the attention of traders, with a 24-hour trading volume of 24.20M API3 (equivalent to $25.14M), reflecting strong market interest. Let’s dive into the key technicals and why this token is poised for further upside.
Key Technicals: Support and Resistance Levels
API3 has established a solid support zone around $0.835, which aligns with the 24-hour low and acted as a strong base during its consolidation phase between late February and mid-March 2025. This level is reinforced by high trading volume, as seen in the volume bars on the chart, indicating significant buying interest. On the upside, API3 has broken through a critical resistance at $1.253, a level it struggled to surpass earlier in February. The next resistance to watch is around $1.342, a previous high from early February, which could pose a challenge if profit-taking occurs. However, the current momentum suggests bulls are in control.
Bullish Outlook
The breakout above $1.253, coupled with a 41.83% price increase, signals strong bullish sentiment for API3. The moving averages (MA5: $4.363, MA10: $3.145) are trending upward, supporting the bullish narrative, though these values seem unusually high for the charted price range, possibly indicating a display error. Volume spikes, especially around the $0.835 support, confirm accumulation by buyers, while the price action shows consistent higher highs and higher lows. The MACD indicator at the bottom of the chart also hints at bullish momentum, with potential for a positive crossover. With fundamentals like API3’s role in providing secure data feeds for smart contracts, the token is well-positioned for growth. Traders should watch for a retest of $1.253 as support, which could offer a solid entry for a push toward $1.342 and beyond.
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