API3/USDT Records a Price Increase of 13.67%

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As of today, the API3/USDT token’s price welcomed a moderate price increase of 13.67%. This appears to be one of the most notable price increases in recent times. Consequently, this may signal a surge in bullish momentum. However, there is a need for careful examination before making such claims in order to make informed trading decisions.

API3 Statistics:

API3 Price: $1.743

API3 Capitalization: $152.98M

API3 Circulating Supply: 86.42M

API3 Total Supply: 144.07M

API3 CoinMarketCap Rank: 318

Key Price Levels:

Resistance: $1.800, $2.000, $2.200

Support: $1.600, $1.400, $1.200

API3/USDT Buyers Regroup at the 20-day MA Line

As price activity in the API3/USDT daily market has rebounded off the support formed by the 20-day Moving Average (MA) line, it appears that bulls have resumed action in the meantime. The resulting price increase was notable and portrays the strength of bulls in this market.

Consequently, this market is almost recovering from all the incurred losses of two sessions ago. Nevertheless, the Stochastic Relative Strength (RSI) lines can be seen still falling towards the 50 mark of the indicator. Although the leading line of this indicator has a slight deflection, it doesn’t significantly hint at a trend reversal at this point on the daily chart.

API3 Seems Ready to Re-Challenge the Resistance at the $1.800 Mark

The API3/USDT 4-hour market has started a new session. What’s more, is that buyers are already in the lead as early as this is. Also, trading activity now occurs above all the MA lines on the chart. Simultaneously, the Stochastic RSI lines can be seen rising out of the oversold region steadily. The terminal part of this indicator can be seen to be rising even more strongly following the appearance of the last price candle on the chart.

However, it should be noted that the movement of the Stochastic RSI lines is a bit more exaggerated than expected. Consequently, this points out the fact that the market may rise further upwards but upside momentum may get exhausted shortly. Therefore, it appears that crypto signals targeting just the $1.850 mark may be just right for this market.

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