Market Overview for API3/Tether USDt (2025-09-11 12:00 ET)

• API3/USDT traded down 0.32% over 24 hours amid bearish momentum and consolidation near key support.
• RSI indicates oversold conditions, suggesting a potential short-term bounce, but bearish bias remains.
• Volatility expanded in early session, then contracted, hinting at indecision ahead of key Fibonacci levels.
• High volume during breakdown to 0.9791 confirms bearish control but lacks follow-through in recovery attempts.

The API3/Tether USDt pair (API3USDT) opened at 0.999 and closed at 0.9901 during the 24-hour window. The price reached a high of 1.0006 and a low of 0.9758, reflecting a bearish bias. Total volume was 862,537.25 API3 and turnover amounted to 854,106.87 USDT. The pair experienced a moderate drop driven by selling pressure during the early New York session before consolidating in a tight range toward the close.

Structure & Formations

The 15-minute chart shows a bearish structure, with key support identified around 0.984–0.987 and resistance at 0.990–0.992. A bearish engulfing pattern formed at 0.9902–0.9892, confirming a breakdown in bullish sentiment. A doji appeared near 0.9893, suggesting indecision. The price appears to be testing the 0.984 level, with a potential for a double-bottom formation if support holds.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are bearishly aligned, both below the current price. The 50-period MA sits at approximately 0.9885, slightly above the current price of 0.9901. The daily chart shows the 50-period and 200-period MAs also bearish, with the 50-period sitting at 0.9892. The price is currently below both, indicating a continuation of the bearish trend.

MACD & RSI

The 15-minute MACD showed a negative divergence, with the MACD line crossing below the signal line and the histogram shrinking, indicating weakening bearish momentum. RSI is currently at 34, indicating oversold conditions, which could trigger a short-term bounce. However, RSI remains below key overbought levels, supporting the bearish trend.

Bollinger Bands

The price has recently expanded beyond the upper Bollinger Band during a brief rally but has since retracted and is now consolidating near the lower band. This suggests a period of consolidation and may indicate that the market is preparing for a potential rebound or a further breakdown. Volatility is moderate, with the bands maintaining a typical width.

Volume & Turnover

Volume spiked during the breakdown to 0.9791, with a 15-minute candle showing 40,454.95 API3 traded, confirming bearish control. Turnover was higher during these bearish moves, suggesting significant participation. However, volume during the recovery attempts has been lower, indicating weak follow-through from buyers. This divergence suggests a lack of conviction in the rally and continued bearish control in the near term.

Fibonacci Retracements

On the 15-minute chart, the price is near the 61.8% Fibonacci retracement level of the recent swing high (0.9906) to the low (0.9758), at approximately 0.9836. A bounce off this level could test the 50% retracement at 0.9867. On the daily chart, the 61.8% level sits at 0.9864, aligning with the 15-minute structure. This confluence suggests a potential reversal or consolidation point.

Backtest Hypothesis

A backtesting strategy could involve entering short positions on bearish candlestick patterns (e.g., engulfing, doji) when RSI confirms oversold conditions and volume increases. A stop-loss could be placed just above key resistance levels, such as 0.990–0.992. Targets could be set at 61.8% and 38.2% Fibonacci retracement levels. Given the current structure and technical indicators, this approach appears valid but should be used with caution, as false breakouts can occur.