API3/Tether Market Overview

• API3USDT advanced 7.8% from 0.743 to 0.7909, with a 24-h high of 0.7864 and a low of 0.7425.
• Momentum surged in the latter half of the 24-h period, with a large volume spike around 09:00–09:30 ET today.
• RSI reached overbought territory near the close, signaling potential short-term reversal risks.
• Price retested prior resistance levels as support, with a bullish engulfing pattern observed at the 0.760–0.763 range.
• Bollinger Band expansion occurred during the rally, indicating rising volatility ahead of consolidation.

The API3/Tether pair (API3USDT) opened at 0.743 on October 1, 2025 (12:00 ET–1), and closed at 0.7909 by 12:00 ET. The pair reached a high of 0.7864 and a low of 0.7425 during the 24-hour window. Total volume traded amounted to 1,961,558.34 USDT, with notional turnover reaching approximately $1,518,687.06. Price action has shown a clear bullish bias, particularly from the 19:30 ET timeframe onward.

Over the past 24 hours, API3USDT formed several key structures. A bullish engulfing pattern emerged near the 0.760–0.763 level, followed by a strong rally to 0.7864. Notable resistance levels include 0.7864 (high) and 0.7819 (close of a major bearish candle). Support levels are visible at 0.7657, 0.7601, and 0.7587. A doji formed at 0.7587, indicating indecision and potential consolidation ahead.

The 20-period and 50-period moving averages on the 15-minute chart are bullish, with price comfortably above both. The daily chart shows the 50-period EMA at 0.7628, suggesting a longer-term bullish trend. The MACD line crossed above the signal line around 08:45 ET, confirming a bullish momentum shift. RSI reached 72 near the close, indicating overbought conditions and a possible pullback to 0.760–0.765 levels in the near term.

Bollinger Bands show a recent expansion, driven by increased volatility during the rally. Price has been trading near the upper band since 08:45 ET, suggesting short-term momentum is intact. The lower band currently sits at 0.7575, aligning with key support. Volume increased significantly during the rally to 0.7864, confirming bullish conviction. Notional turnover also spiked during this period, aligning with the price move. However, a divergence emerged around 10:00 ET, where price made a new high but volume failed to do so, hinting at potential exhaustion in the short term.

Fibonacci retracement levels on the 0.7425–0.7864 swing place key levels at 0.7688 (38.2%), 0.7777 (50%), and 0.7836 (61.8%). Price appears to be consolidating near the 61.8% level, with potential for a retest of 0.7688 in the next 24 hours if a pullback occurs. On the daily chart, Fibonacci levels for the 0.7425–0.7864 move are also relevant for potential support and resistance.

Looking ahead, API3USDT may continue its upward trajectory if it holds above 0.7657, with 0.7864 and 0.7885 as key targets. A break below 0.7601 could trigger a deeper consolidation toward 0.7575. Investors should monitor volume and RSI levels for signs of overbought conditions or divergence to time potential exits or entries.

Backtest Hypothesis

A potential backtesting strategy could involve entering a long position when API3USDT closes above the 61.8% Fibonacci retracement level (0.7836) with RSI below 60 and MACD above the signal line. A stop-loss could be placed below the 0.7657 support level. The take-profit target would align with the 0.7885–0.7909 range, with an exit signal triggered if RSI crosses above 70 or volume diverges. This approach would leverage key technical confluence for a bullish breakout scenario.