Market Overview for API3/Tether (API3USDT): Bullish Breakout Amid Rising Momentum

• API3USDT opened at 0.6142 and closed near 0.6278 after a strong upward move.
• Price broke above key resistance levels with increasing volume during the 15:45–16:00 ET window.
• RSI and MACD both indicate strong momentum, with no immediate overbought warnings.
• Volatility expanded through Bollinger Bands as price surged toward the upper band.
• Notional turnover increased by over 200% in the last 6 hours, supporting the bullish continuation.

API3/Tether (API3USDT) opened at 0.6142 at 12:00 ET -1 and closed at 0.6278 by 12:00 ET. The 24-hour range was 0.5651–0.6297. Total volume reached 6,548,613.60 API3, and notional turnover was approximately $3,992,207 USD. Price action has shown a strong bullish bias, with price closing above the 15-minute 20-period moving average and forming bullish engulfing patterns near 0.6189–0.6278.

The 15-minute chart shows a clear break above key resistance levels around 0.6189 and 0.6278, with a bullish engulfing candle confirming the move. The 20-period moving average is currently at 0.6227, and the 50-period MA at 0.6193, suggesting strong short-term momentum. A bullish crossover between the MACD line and signal line has occurred, reinforcing the potential for a continuation.

The RSI is currently at 65, indicating moderate bullish momentum and no immediate overbought signals. Price is now near the upper Bollinger Band, suggesting a period of high volatility. Volume has spiked during the critical break, confirming the strength of the move. The 15-minute Fibonacci retracement from the key swing low at 0.5651 shows that price is now approaching the 61.8% level at ~0.6246, with a potential target at the 78.6% level around 0.6366.

Bollinger Band expansion has been most notable between 15:45 and 16:00 ET, as price closed at 0.6278 on the upper band with volume exceeding 139,237.33 API3. This suggests that traders are increasingly bullish. However, volatility remains high, and a pullback toward the 38.2% Fibonacci level (~0.6167) could test strength before a possible move toward 0.6366. Investors may watch for a confirmation candle above 0.6278 or a pullback with volume contraction as potential signals for the next phase.

Backtest Hypothesis

A potential strategy could involve entering a long position at the close of the bullish engulfing candle around 15:45 ET (0.6189) with a stop-loss just below the 15-minute 50-period MA (~0.6193) and a target aligned with the 61.8% Fibonacci level at 0.6246. A trailing stop could be placed at 0.6210 as price moves higher. This hypothesis aligns with the MACD crossover, volume confirmation, and Fibonacci projection, offering a structured approach to capitalizing on the current bullish momentum.