Api3 Market Overview: 24-Hour Technical Summary (2025-07-24)

• Price action shows a bearish bias with a 6.5% decline from 0.792 to 0.763 over 24 hours.
• A key support level forms near 0.760, with a potential reversal pattern forming after a sharp selloff.
• Volume surged at 20:30 ET, indicating heightened selling pressure during the downtrend.
• RSI is in oversold territory, suggesting a potential short-term bounce may be in the cards.
• Bollinger Bands show a recent contraction, hinting at a possible breakout in the near term.

Api3 (API3USDT) opened at 0.792 at 12:00 ET-1 and traded between 0.799 and 0.761 before closing at 0.763 at 12:00 ET. Total volume reached 1.29 million, with a notional turnover of $1.01 million. The 24-hour period saw a bearish bias, with a sharp decline from midday into the evening session.

Structure & Formations

Price action formed a descending channel from 0.792 to 0.763, with key support identified near 0.760 and resistance at 0.775. A potential bullish reversal pattern emerged after a 12-hour bearish leg, with a doji forming around 0.764–0.765. A bearish engulfing pattern was observed at 0.781–0.776, indicating continued selling pressure.

Moving Averages

On the 15-minute chart, price has remained below both the 20-period and 50-period moving averages, reinforcing a short-term bearish trend. On the daily chart, the 50-period MA is currently above the 200-period MA, suggesting a mixed bias between medium-term strength and long-term bearish momentum.

MACD & RSI

The MACD turned negative during the afternoon selloff, confirming bearish momentum. RSI dropped into oversold territory (below 30), suggesting a potential short-term bounce from 0.760–0.763. However, without a strong follow-through, the oversold condition may not lead to a full reversal.

Bollinger Bands

Volatility has contracted over the last 6 hours, with price hovering near the lower band. A breakout from the 0.764–0.767 range could signal a potential reversal or continuation of the bearish trend, depending on volume and order flow.

Volume & Turnover

Volume spiked sharply at 20:30 ET with a candle printing a 0.764 close, indicating heightened bearish participation. Turnover aligned with the volume spike, confirming the selloff. A divergence between price and volume was not observed, suggesting the move remains credible.

Fibonacci Retracements

Key Fibonacci levels from the 0.792–0.761 swing show 38.2% at 0.779 and 61.8% at 0.772. Price has tested both levels with bearish rejection, suggesting further support testing around 0.760 is likely.

Looking ahead, a test of the 0.760 support level may trigger a short-term bounce, but without a strong bullish reversal pattern or confirmation from volume and momentum indicators, the bearish bias could continue. Investors should watch for a potential breakout from the Bollinger Band contraction and a follow-through move above 0.772 for a reversal signal. As always, be mindful of macro risks and the potential for volatility spikes in the next 24 hours.