Market Overview for API3/Tether (API3USDT)

Summary
• API3USDT declined intraday with bearish engulfing patterns and a 24-hour low near 0.438.
• Momentum weakened as RSI approached oversold territory, suggesting possible short-term bounce.
• Volume surged during the 24-hour low, hinting at accumulation or profit-taking pressure.
• Price traded within a tightening Bollinger Band, signaling potential for a breakout or breakdown.
• Fibonacci retracement at 0.445–0.446 appears to act as a key support level.

24-Hour Price and Volume Summary

API3/Tether (API3USDT) opened at 0.4542 on 2025-12-28 12:00 ET, reached a high of 0.4580, a low of 0.4380, and closed at 0.4449 on 2025-12-29 12:00 ET. Total traded volume was 833,204.47, with a notional turnover of 367,531.77 USDT over the 24-hour window.

Structure & Formations

Price formed bearish engulfing patterns during key breakdowns, particularly after the 2025-12-29 12:15 ET candle. A bearish flag pattern developed between 0.449 and 0.453, with price breaking below the support line around 0.445. The 0.438 level marked a recent swing low, which appears to have strong short-term relevance as a psychological floor.

Moving Averages and Momentum

On the 5-minute chart, the 20-period and 50-period moving averages are bearishly aligned, with price trading below both. The 50-period MA at ~0.450 has acted as resistance during pullbacks. . On the daily chart, the 50/100/200 MA crossover is bearish, with price well below the 100 and 200 lines. RSI dipped into oversold territory around 0.438, suggesting potential near-term recovery, while MACD turned negative, reinforcing bearish momentum.

Volatility and Bollinger Bands

Bollinger Band contraction was observed during the late afternoon and early evening ET, suggesting a period of consolidation. Price then broke below the lower band during the 12:15–12:45 ET window, indicating heightened volatility and bearish pressure. This expansion phase could indicate either a continuation of the downtrend or a reversal setup.

Volume and Turnover Analysis

Volume and turnover spiked significantly during the price decline, particularly from 12:15 to 12:45 ET, with over 116,000 contracts traded during the 12:30 ET candle. The divergence between price and volume at key support levels suggests either accumulation by bargain hunters or a weakening of the downward trend. A potential bounce may be supported by the volume profile near 0.445–0.446.

Fibonacci Retracements

Applying Fibonacci to the recent 5-minute swing from 0.4557 to 0.4432, the 61.8% level (~0.446) has acted as a local floor. On the daily chart, the 38.2% retracement from the prior swing high is at ~0.450, a level price tested multiple times. These levels may serve as potential pivot points over the next 24 hours.

Forward-Looking Observation

Price appears to have tested key support levels and may consolidate near 0.445–0.446 before a potential reversal. However, traders should remain cautious as the near-term trend is bearish, and a retest of the 0.438 low could trigger renewed selling pressure. Watch for volume confirmation on any rebound to assess strength.