---$API3
API3/USDT Technical Analysis – Potential Breakout Ahead!
Hello everyone! Let’s take a deep dive into the current situation of API3/USDT on the daily timeframe.
As we can clearly see from the chart, API3 has been in a downtrend for several months, forming lower highs and lower lows. However, recently, we are witnessing an interesting price action development. After forming a strong bottom around the $1.00 zone, the price has started to recover and is now trading around $1.188, showing a +1.71% increase today.
What’s more important is the technical pattern forming here — a Bullish Pennant/Wedge Formation. The price has broken out from the short-term downtrend line and is now trying to retest the resistance area around $1.30. A clear breakout and daily candle close above this range could trigger a strong bullish continuation.
If the price successfully breaks and holds above the upper trendline, we might see a significant move towards the $2.00 - $2.50 levels in the coming weeks. Volume confirmation will be crucial to validate this move.
Key Levels to Watch:
Support: $1.00 - $1.05
Resistance: $1.30, $1.50, $2.00
Breakout Target: $2.50
Bullish Scenario: If API3 holds above $1.05 and breaks $1.30 resistance with strong volume, a quick rally towards $2+ is possible. Bearish Scenario: Failure to break $1.30 may result in another correction back to $1.00 support.
Always manage your risk, use stop-losses, and don't chase pumps.
