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The API3USDT market has gained significant traction over the past few weeks. The market has continued to find successively higher support levels. As a result, the token’s price has run through multiple technical price levels, and the ongoing session is trying to continue the trend.
API3 Statistics:
Current API3 Value: $4.718
API3 Market Cap: $410,031,107
API3 Circulating Supply: 86,421,978
API3 Total Supply: 125,324,588
API3 CoinMarketCap Rank: 141
Key Price Levels:
Resistance: $4.718, $4.900, and $5.100
Support: $4.700, $4.500, and $4.300
API3 Is Attempting to Forge Ahead Above the $4.500 Mark
In the daily API3USDT market, price action broke through the psychological price level in the previous session. Meanwhile, the ongoing session has picked up from the previous breach and has advanced the market further upwards through the 4.700 mark. Consequently, trading activities here now occur above the Guppy Multiple Moving Average (GMMA) indicator lines.
Likewise, the applied Moving Average Convergence Divergence (MACD) indicator lines are rising sharply upward, indicating that upside market forces are up and running. In addition, the bars of the MACD indicator are still vividly green and tall above the equilibrium level, indicating that upside momentum is quite strong.
Price Action in the API3USDT Seems Ready to Keep Going
Upside forces appear to remain dominant in the API3 4-hour market. This could be seen as the buyers quickly gained control of the market following the minor price dip that occurred in the previous session, going by this market timeframe. The last price candle suggests that price action may have found strong support at the $4.500 mark. Also, this support is located above the GMMA lines.
Simultaneously, the used MACD indicator lines are still pointing upward, while its bars are appearing vividly green even in this timeframe. Examining this market reveals that price action is consistent with upside promises; consequently, this suggests that the use of bullish crypto signals still seems okay in this market, as prices may rise through the $5.000 mark.
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