Since the past two trading sessions, price action in the API3/USD market has been presenting moderate gains. This token has recorded an additional price increase of 2.60%. Price action in this market seems ready for more upside moves, as trading indicators are positive about increasing upside momentum.
API3 Analysis Data:
API3 value now: $1.6350
API3 market cap: $131,744,918
API3 moving supply: 80,187,931
API3 Total Supply: 71,748,537
API3 CoinMarketCap ranking: #196
Major Price Levels:
Top: $1.6350, $1.6400, and $1.6450
Base: $1.6320, $1.6300, and $1.6270
Buyers in the API3 Market Appears Ready to Take Price Further Upwards
The API3/USD daily market has stayed consistent with moderate profits for about three sessions till now. Price activity in this market now occurs above the 61.80 Fibonacci Retracement level, and above the 21-day EMA line. The lines of the Stochastic RSI are in the overbought region, with the leading line now at the peak of the indicator. Meanwhile, the lagging line remains at the 89 levels of the indicator. Also, the MACD indicator curves are rising more steeply toward the equilibrium level. The histogram bars of the MACD show that price upside momentum is strong enough to continue for some time. Consequently, there may be more price upside moves in this market.
API3 Is Eying the $1.7050 Price Level
Price action on the API3 /USD 4-hour market shows that the bulls sre strong, and were able to recover from weak punches that were delivered by the bears. In the ongoing session, buyers have been able to show dominance, going by the size of the last price candle. Consequently, this has caused the RSI indicator to be about to deliver an upside cover in the overbought region. Also, the bars of the MACD have started showing that the bulls have regained firm control. This could be seen as the last bar on the MACD is now vivid green. Meanwhile, API3/USD price action remains above the 21-day EMA curve and continues to move upwards in the drawn upside-sloping price channel. Therefore, price action in this market seems ready to hit the $1.700 mark.
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