Price Action in the API3USDT Market Faces Rejection on Its Way to the $1.900 Mark

Massive profits have been recorded in the API3USDT daily market today. Yet, it appears that the session is holding on to its bullish characteristics. Technically, this suggests that more gainful price moves can still be seen in this market.

Key API3 Statistics:
Current Basic API3 Value: $1.715
API3 Market Cap: $144,868,621
API3 Circulating Supply: 86,421,978
Total Supply of API3: 125,324,588
API3 CoinMarketCap Ranking: 265

Key Price Levels:
Resistance: $1.715, $1.800, and $1.900
Support: $1.700, $1.600, and $1.500

API3USDT Price Contracts Moderately Due to Headwinds

The API3USDT market has recorded a price increase of over 17% in today’s trading session alone. It could be seen that this had occurred shortly after price action witnessed a sharp downward correction towards the $1.468 mark. However, there was an instantaneous price rebound that took the token’s price through multiple resistance price marks. Consequently, this has returned the token to trading at a significant distance above the 21-day Moving Average (MA) line.

The rapid response of buyers has been reflected in the Moving Average Convergence Divergence (MACD) indicator lines. This is revealed as the indicator lines have avoided a bearish crossover move above the equilibrium level. Subsequently, these lines have continued trending upward, supporting the opinion that buyers are still in charge of the market.

Bears Land a Blow in the API3 Market, But It Seems Too Weak

Even when the API3USDT market has seen a moderate downward correction, technical indicators suggest that upside momentum is still strong. Price activity in the API3 market remains above the 21-day MA line. Likewise, the MACD indicator lines continue on their smooth upside path as green bars keep showing up above the equilibrium level.

Consequently, this suggests that price action still has an upside trajectory, which may keep the token retracing to higher price marks. Traders can still anticipate a price resurgence through the $1.800 mark, perhaps towards the $1.900 mark.

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