Market Overview: API3/Tether (API3USDT) 24-Hour Analysis

Summary
• API3/Tether opened at 0.6806 and closed at 0.6676 on 2025-11-10 at 12:00 ET.
• Price reached a high of 0.7059 and a low of 0.662 in the 24-hour window, showing a wide range.
• Total volume traded was 5,008,148.29, with a turnover of $3,434,375.28.
• Volatility increased in early trading before consolidating toward the session close.
• Negative divergence in momentum and price suggests bearish pressure.

API3/Tether (API3USDT) opened at 0.6806 at 12:00 ET - 1 (2025-11-09) and closed at 0.6676 at 12:00 ET on 2025-11-10. The pair reached a high of 0.7059 and a low of 0.662 during the 24-hour period, reflecting elevated volatility. Total traded volume amounted to 5,008,148.29 with a notional turnover of $3,434,375.28, highlighting active trading interest. The price action suggests a bearish bias, as seen in the closing below key support levels and negative momentum indicators.

Structure & Formations

A key support level appears to have formed around 0.6676–0.6685, as seen in the consolidation around that range at the close. A bearish engulfing pattern was observed near the high of 0.7059, signaling a potential reversal after a strong short-term rally. Several doji candles in the 22:30–02:00 ET window indicate indecision among traders amid sharp price swings. A recent 61.8% Fibonacci retracement level from the 0.662 to 0.7059 swing aligns closely with the current price, suggesting a temporary equilibrium may have formed.

Moving Averages and Bollinger Bands

On the 15-minute chart, the price is below both the 20- and 50-period SMAs, indicating a short-term bearish bias. The Bollinger Bands have widened in the early part of the session, pointing to increased volatility, but have since contracted near the current price range, suggesting a potential for consolidation or reversal. The price is now near the lower band of the Bollinger Bands, hinting at a potential bounce or a continuation of the downward trend.

Momentum and Volatility Signals

The RSI has moved into oversold territory at the close, reaching 27, suggesting a potential rebound could be in the cards. However, the MACD remains bearish with the line below the signal line and a negative histogram. This divergence between price and momentum indicators could indicate a short-term bounce, but the overall bearish bias remains intact. The volume profile supports this, with a sharp spike in volume accompanying the drop from 0.7059 to 0.662, which is a bearish confirmation.

Volume and Turnover

The total traded volume of 5,008,148.29 was concentrated in the initial hours of the session, especially between 00:00 and 03:00 ET, when the price moved from 0.6846 to 0.6694. This large volume suggests significant liquidation or position unwinding. As the session progressed, volume decreased, indicating a lack of conviction behind further downward moves. A divergence between volume and price action is evident in the last three hours of the session, where the price continued to decline with lower volumes, signaling weakening bearish pressure.

Backtest Hypothesis

The current analysis aligns with the need for a precise backtest strategy. To proceed, confirmation on the exact exchange ticker format is required (e.g., BINANCE: API3USDT or COINBASE: API3USD). Once clarified, technical indicators such as MACD and RSI can be sourced, and a buy-on-signal, 5-day-hold backtest strategy can be implemented. Including optional risk controls—like a 5% stop-loss or 10% take-profit—can enhance the strategy’s robustness. The performance from 2022-01-01 to 2025-11-10 can then be evaluated for signal accuracy and risk-reward balance.