$API3 has experienced a decline of 2.782% in the past 24 hours, signaling a weak bearish sentiment.
The daily price range of 0.628 to 0.585 indicates increased volatility, with current trading around the lower Bollinger Band at 0.585.
The established support at 0.585 and resistance at 0.628 are critical levels to monitor.
While macroeconomic factors, such as inflation and regulatory news, remain unstable, they weigh on market sentiment.
Bitcoin's influence on API3 appears undefined, possibly suggesting a decoupling in trends.
Traders might consider a short-term approach given the current downtrend, as price movements could be unpredictable.
Key takeaway: API3's ability to hold support at 0.585 will determine its near-term direction amid a broader market decline.
