Whoa! Imagine the party was at its peak and suddenly, the music drops a bit. That's exactly how the price of API3 is, a crypto that surged suddenly and is now in a tug-of-war that has us all glued to the screen.
Check this out: in a week, API3 skyrocketed nearly 90%, reaching over $1.80. Who was behind this party? The whales (the largest investors), 'smart money', and a bunch of people betting that the price would rise. Pure Power! 💪💰
But out of nowhere, as if someone had thrown a bucket of cold water, the price dropped 10% in just 24 hours. And here's the interesting part: even though the crypto cooled off, sellers have not managed to take full control. Why? Because money keeps flowing in, not out. The Chaikin Money Flow (CMF) indicator confirms it: there are more people buying than selling.
Furthermore, API3 reserves on exchanges are plummeting, which means people are pulling them out to store in their wallets. That's a sign they want to hold them long-term! And to top it off, the 100 largest wallets and 'smart money' have been accumulating as if there were no tomorrow.
The dilemma: short or long?
Here’s the big clash: while heavyweight buyers are betting that API3 will rise, there are tons of people opening short positions (that is, betting that the price will fall). So many people want it to go down that they are even paying extra to keep those bets. This is a live battle! 🥊
If the buyers win, those short bets will be liquidated and the price could shoot up again. Goodbye to the sellers! But if buyers back off and the price falls below $1.24, a stronger correction could come, and those who bought at the top are in for a scare.
So, the future of API3 hangs by a thread. Will it be a small stumble for a new takeoff, or the beginning of a decline? The truth is, things are heating up.$API3
