Market Overview for API3/Tether (API3USDT)

Summary
• Price tested key resistance at 0.4650 but failed to hold, reversing downward.
• RSI suggests moderate bearish momentum, with no clear overbought/oversold extremes.
• Volume spiked during the overnight decline, confirming downward pressure.
• A 5-minute bearish engulfing pattern formed around 0.4635–0.4625.
• Bollinger Bands indicate tightening volatility before the recent break.

The API3/Tether (API3USDT) pair opened at 0.4607 on 2026-01-07 12:00 ET and closed at 0.4491 by 2026-01-08 12:00 ET, with a high of 0.474 and a low of 0.4473. Total volume was 520,268.96, and notional turnover reached $238,528.60 over the 24-hour window.

Structure & Formations

A critical resistance level at 0.4650 repeatedly failed to hold, suggesting a potential retesting of support near 0.4500. A bearish engulfing pattern formed during the overnight hours, confirming a shift in sentiment. On the 5-minute chart, a long bearish shadow emerged at 0.4625–0.4635, reinforcing the downtrend.

Moving Averages

Short-term moving averages (20/50-period) on the 5-minute chart are in bearish alignment, with price consistently below both. Daily moving averages (50/100/200) also show a bearish bias, though price has not yet tested the 200-day support level.

MACD & RSI

The MACD shows a bearish crossover with a narrowing histogram, indicating weakening momentum. RSI remains in neutral territory (40–50 range), with no immediate signs of overbought or oversold conditions. A further drop below 40 could signal a deeper correction.

Bollinger Bands

Volatility remained elevated for much of the 24-hour window, with price touching the upper band during the mid-session peak. However, a sharp move toward the lower band suggests distribution and bearish sentiment.

Volume & Turnover

Volume spiked significantly during the overnight hours, particularly between 02:00–05:00 ET, as price moved from 0.4650 down to 0.4530. Turnover followed the same trend, showing strong alignment with price action and confirming bearish conviction.

Fibonacci Retracements

The recent 5-minute move from 0.4650 to 0.4491 has hit the 61.8% Fibonacci level, a key area for potential support or reversal. A close below 0.4450 could target the 78.6% level as a test for near-term buyers.

Looking ahead, a retest of the 0.4500–0.4530 support range is likely, with the potential for a bounce or a deeper pullback depending on buying interest. Investors should monitor volume during this retest for signs of conviction. As always, rapid liquidations and large orders could drive unexpected volatility.