$API3 lost 8.7% today, and it did it on 7.6 times its normal volume. That second number is why I take the drop seriously.
Price is 0.3209, about 21.3% under the weekly high of 0.4077. The week still shows a gain of 11.8%, so the earlier run has not been fully erased. But when a pullback comes with roughly 20.7M USDT of trading instead of a quiet drift, it usually means holders are selling into whoever is still buying, not just a pause.
BTC is down 1.24%, so part of this is the market. Not most of it, though. API3 fell seven times harder.
Hourly RSI is 42.4, weak but nowhere near washed out. There is room for more downside before this looks oversold.
I lean cautious here. I would want to see API3 hold 0.30 and the volume calm down before I take a bounce seriously. A move back above 0.35 with volume still high would tell me buyers have stepped back in and the drop was a shakeout. Below 0.30, the weekly low of 0.266 becomes the next number that matters, and that is another 17% lower.
#API3 #Oracles
Price is 0.3209, about 21.3% under the weekly high of 0.4077. The week still shows a gain of 11.8%, so the earlier run has not been fully erased. But when a pullback comes with roughly 20.7M USDT of trading instead of a quiet drift, it usually means holders are selling into whoever is still buying, not just a pause.
BTC is down 1.24%, so part of this is the market. Not most of it, though. API3 fell seven times harder.
Hourly RSI is 42.4, weak but nowhere near washed out. There is room for more downside before this looks oversold.
I lean cautious here. I would want to see API3 hold 0.30 and the volume calm down before I take a bounce seriously. A move back above 0.35 with volume still high would tell me buyers have stepped back in and the drop was a shakeout. Below 0.30, the weekly low of 0.266 becomes the next number that matters, and that is another 17% lower.
#API3 #Oracles
