API3USDT Holds 0.2800, But Bearish Signal Emerges Near 0.2858

Summary
• API3USDT tested key support near 0.2775 but found buyers above 0.2800.
• Rising volume confirmed the recent bullish move from 0.2775 to 0.2858.
• RSI shows moderate momentum with no immediate overbought or oversold signals.
• Price remains within Bollinger Bands, indicating sideways consolidation after the rally.
• A bearish engulfing pattern formed near 0.2858, suggesting possible short-term reversal.

The pair opened at 0.2853 on 2026-02-23 12:00 ET, surged to 0.2866, dipped to 0.2775, and closed at 0.2858 by 2026-02-24 12:00 ET. Total volume reached 793,607.7 units, with a notional turnover of 220,284.3.

Structure & Formations

API3USDT displayed a bearish engulfing pattern near 0.2858, signaling potential short-term reversal. A prior support cluster between 0.2800 and 0.2775 held as a temporary floor, suggesting buyers are active in this range. The price consolidation between 0.2800 and 0.2858 may indicate a buildup for the next directional move.

Technical Indicators

RSI hovered around the 50 level, indicating neutral momentum with no immediate signs of overbought or oversold conditions. MACD crossed into positive territory, supporting the bullish bias from 0.2775 to 0.2858. Bollinger Bands remained stable, with price staying within the midline, suggesting continued range-bound trading.

Volume & Turnover

Volume increased significantly during the rally from 0.2775 to 0.2858, confirming the move. A high-volume bar at 0.2858 (79,360.77 volume) marked a potential top. Turnover also surged during this rally, aligning with the price action and indicating strong participation.

Key Levels and Fibonacci

Support appears near 0.2800 and 0.2775, with resistance at 0.2858 and 0.2866. A 5-min Fibonacci extension from the recent swing low (0.2775) to the high (0.2858) suggests 0.2875 as a potential target. A break below 0.2800 could trigger a retest of 0.2775, while a break above 0.2858 could bring 0.2866 into focus.

Price may test the 0.2858 level again in the next 24 hours, with a break above suggesting a potential continuation toward 0.2866–0.2875. Traders should remain cautious of a pullback to test support at 0.2800.