API3 is a decentralized solution to increase the availability of real world data on blockchain. In the last seven days, a 90 %rise in the price of API3 token was observed and the token price increased over $ 1,80. This mobility excited investors because it is surprising that it can remain strong despite the weakness in the general market feeling.
API3 rise
The funding rates for API3 have returned to negatively in the last 24 hours. On August 19, the weighted funding rate -0.47%compared to the open position, while the ratio on August 20 to 1.10%decreased. This table shows that many investors are waiting for the price to fall and open a short position. Although the tendency towards Short position in the market has increased, the price of API3 did not decrease a significant decrease. Token, although some withdrawal from the summit, the buyer was not completely withdrawn from the market was observed.
This does not give a clear sign of the direction of the market. Despite the negative funding rates, the seller cannot be said to have fully controlled the control of the seller.
Purchases for the API3 token continue. In the daily candle graph, the Chaikin Money Flow (CMF) indicator, which follows the on-ach liquidity, rose from 0.04 to 0.10 in the last hours. Despite the price decline, the positive CMF is pointing to the fact that money entry into the market continues. The CMF is a volume -weighted indicator of the change in price, indicating that the money flows in or out, looking at the volume of change and transaction.
The API3 balances in the stock exchanges decreased by 30.5 %in the last seven days and fell 28.63 million token. In the same period, the 100 largest address API3 increased their assets by 25.98 %, while the increase in the amount of API3 in the “Smart Money” wallets reached 204 %.
API3 Coin Price
There is a positive momentum in the 4 -hour API3 price chart. The price was supported by the 0.236 Fibonacci level of approximately $ 1.49 and the Bull-Bear Power (BBP) indicator is positive. The value of the BBP indicator continues to remain in 0.464, which indicates that the market may be in favor of buyers.
If buyers maintain their position, the likelihood of closing Short positions may increase and new periodic increases may be seen in prices. The target levels are primarily considered as 1.64 and then $ 1.77. On the contrary, if the price decreases below $ 1.24, long positions may be at risk, in which case the downward movement may gain momentum.
Regarding API3, Market Analyst Harsh Notariya emphasized that he maintains the vitality of investor interest and used the following statements:
“For now, despite the negative funding rates, it seems that there is still a strong buyer on API3. We will watch the developments in the market for a clear direction determination in a short time.”
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
