API3/Tether (API3USDT) Market Overview – 2025-09-24

• API3/Tether traded lower over 24 hours, closing at 0.8175 after hitting a high of 0.8465.
• Volatility expanded mid-day, with a pullback into overbought RSI and bearish reversal patterns.
• Downtrend reinforced by lower highs and lows, with key support at 0.8100–0.8016.
• Volume spiked during the selloff, confirming bearish momentum toward the lower Bollinger Band.
• MACD crossed below zero, signaling bearish momentum, with a potential test of the 20SMA ahead.

API3/Tether (API3USDT) opened at 0.8342 at 12:00 ET–1 and closed at 0.8175 by 12:00 ET, with a high of 0.8465 and low of 0.8016 over the past 24 hours. Total volume for the 24-hour period amounted to 1,794,824.33 and notional turnover reached 1,463,106.69 USDT. The pair formed a broad descending channel, with notable bearish patterns including a bearish engulfing candle at 17:45 ET and a morning doji at 03:45 ET, signaling indecision and exhaustion in the short term.

The 20SMA is currently above the price, while the 50SMA has crossed bearish to signal a shift in trend. On the daily chart, the 50DMA is also below the 100DMA and 200DMA, reinforcing the bearish bias. Key support levels include 0.8100 and 0.8016, with resistance at 0.8250. A break below 0.8100 could accelerate the downtrend toward 0.7908. A retracement above 0.8250 could signal short-term relief but may not be enough to reverse the 24-hour bearish momentum.

MACD has turned negative, with a bearish crossover confirming weakening bullish momentum. RSI is in oversold territory at 32, suggesting a potential bounce but not a reversal. Bollinger Bands are wide, with price hovering near the lower band, indicating low volatility and potential for a rebound. The 38.2% and 61.8% Fibonacci retracement levels are currently at 0.8132 and 0.8079, respectively, offering possible short-term support levels if the downtrend slows.

The volume profile is skewed to the downside, with the heaviest trading occurring between 17:00 and 23:00 ET as API3USDT experienced its most aggressive selloff. Notional turnover spiked during this period as well, confirming the strength of bearish sentiment. Price and volume are in alignment, with no signs of divergence. However, the morning doji and a rebound in the 05:00–09:00 ET window suggest short-term traders may look for a test of the 0.8100 level as a potential pivot point.

Backtest Hypothesis
A potential backtesting strategy would involve entering short positions on a close below the 38.2% Fibonacci retracement level at 0.8132, with a stop-loss above the 61.8% level at 0.8079. A target could be set at 0.7908, the previous 24-hour low. The MACD and RSI would serve as filters, with entries favored when RSI dips below 30 and MACD remains bearish. Given the recent volume confirmation, this setup could have a favorable risk-reward profile over the next 48 hours, particularly if bears continue to dominate the 15-minute time frame.