Market Crash Warning! $API3 Death Cross Pressing Down on the 1.32 Defense Line in Crisis?
Technical Analysis: API3 has retraced from a high of 1.9 to around 1.368, fluctuating. The hourly moving averages are in a bullish formation, but the 5/10 moving averages are leveling off. The MACD green bars continue to shorten, and the DIF is about to cross below the DEA. KDJ shows the J value at 74.72 is high and turning down, indicating short-term pullback pressure. The key support level is at 1.32; if it breaks down with volume, it may test 1.25. The upper level of 1.38 is a concentrated area of trading, and a breakout needs significant volume support. The current volume bar has shrunk to 11.5M, indicating weak buying pressure.
News: There are no significant public announcements, but caution is advised regarding the characteristics of small coins. Sudden releases of partnerships/product updates by project teams can easily trigger sharp rises, while leading coins like SOL/ETH may siphon off funds from small coins due to their rising prices.
On-chain Data: Not directly provided but can track key points: 1. Changes in the top 50 holding addresses; 2. Changes in contract positions; 3. Net inflow to exchanges.
Personal Opinion: There is a high probability of continuing the 1.32-1.38 range fluctuation today. If it stabilizes above 1.35 and MACD turns bullish, a small position can be taken to speculate on a rebound, with a stop loss below 1.32. A breakout above 1.38 requires confirmation with at least a 50M volume bar. Small coins should avoid chasing up and down; the key is to observe whether BTC can maintain 113,000.
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