API3 reacts after drop — buying point in spot or chance to short in swing?
API3 is trading at $0.841, up +7% in the last 24 hours. The asset is trying to react after a strong drop, seeking support in the $0.80 region, and is now testing the short-term averages again.
Technical analysis (1D):
EMA(7): $0.852 — above the price, serving as immediate resistance
EMA(25): $0.833 — has been tested and may turn into support
EMA(99): $0.922 — still acts as macro resistance
RSI(6): 47.20 — neutral zone, with room for upward movement or another drop
Volume: slightly increasing, indicating potential buying interest
Possible scenario:
Spot: aggressive entry can be considered between $0.82–$0.84, with stop below $0.80 and target at $0.90–$0.95
Short (swing): if the breakout of EMA(7) fails and a rejection candle forms, it may generate a short entry targeting $0.78
My personal view:
API3 is in a decisive region. Today's candle indicates a reaction, but the trend is still corrective on the macro level. I only trade in the spot if there is a clean breakout of EMA(7) with volume.
Otherwise, shorting with good risk management makes technical sense.
And you, do you believe in recovery or are you preparing for the pullback?