API3/Tether (API3USDT) Market Overview: Volatility and Momentum Rise Ahead of Key Resistance

• API3USDT traded in a 24-hour range of $0.6759–$0.7080, closing near the upper end at $0.7037.
• Momentum shifted from oversold to overbought territory, with strong volume spikes during the late NYSE afternoon.
• Price breached a key Fibonacci level (61.8% of the prior 15-min rally) and tested resistance around $0.7050.
• Bollinger Bands showed a recent expansion, indicating rising volatility and potential trend continuation.
• MACD divergence remains unresolved due to incomplete data, but RSI confirms bullish momentum on the 15-min timeframe.

24-Hour Summary and Key Metrics

API3/Tether (API3USDT) opened at $0.6777 on 2025-10-24 at 12:00 ET and closed at $0.7037 the following day at the same time. The 24-hour high was $0.7080, and the low was $0.6759, indicating a wide trading range. Total volume amounted to 559,747.55, with a notional turnover of $386,451.76. The pair demonstrated a clear bullish bias over the last 24 hours, with price trending upward after a consolidation phase.

Structure & Formations

The API3USDT pair displayed several key price levels and candlestick patterns over the past 24 hours. Notably, a bullish engulfing pattern was visible around 19:15 ET as the price reversed upward from a consolidation phase. A doji near $0.6880 on October 24 suggested indecision before the eventual breakout to the upside. Resistance levels formed at $0.6930 and $0.7050, with the 61.8% Fibonacci retracement level of the prior 15-min swing aligning closely with these price levels. A breakdown of support at $0.6845 may trigger short-term bearish pressure if buyers fail to respond.

Moving Averages and MACD

On the 15-minute chart, the 20-period moving average crossed above the 50-period line, forming a golden cross that supported the upward momentum. However, MACD data is currently unavailable due to a data symbol mismatch—see the Backtest Hypothesis section for resolution details. The RSI indicator showed a strong move into overbought territory (above 65) late in the day, suggesting a potential pullback unless bullish volume can confirm the trend.

Bollinger Bands and Volatility

Bollinger Bands widened significantly in the afternoon hours, especially after 14:15 ET when the price surged above $0.7000. The pair closed near the upper band at $0.7050, indicating high volatility and bullish bias. A contraction in band width may precede a breakout or reversal, so investors should monitor for signs of consolidation before further direction is taken.

Volume and Turnover Analysis

Volume spiked sharply after 14:15 ET, coinciding with a breakout above key resistance. Notional turnover also surged, confirming the price action. A divergence between rising price and declining volume appeared between 02:15 and 05:45 ET, suggesting weak buyer participation. However, the subsequent surge in volume and turnover after 14:00 ET validates the bullish move and supports the likelihood of a continuation.

Fibonacci Retracements and Key Levels

The most recent 15-minute swing from $0.6761 to $0.6915 showed a 61.8% retracement level at $0.6835, which acted as a strong support during the early morning hours. On the daily chart, a retracement from $0.6759 to $0.7080 indicates a 50% level at $0.6919, which may become a new consolidation zone if the price pulls back. These levels are critical for identifying potential entry and exit points for traders.

Backtest Hypothesis

Given the strong RSI readings and bullish price action on the 15-minute chart, a backtesting strategy focused on the MACD crossover—once the correct symbol is confirmed—could offer valuable insights. Specifically, a strategy that goes long on a 20/50-period MACD crossover during active bullish momentum (confirmed by RSI above 65 and volume increase) could be backtested from 2022-01-01 to the present. This approach would likely benefit from the recent price acceleration but would require the accurate symbol for API3/USDT on a specific exchange (e.g., BINANCE:API3USDT) to retrieve the missing MACD data.