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API3 Price Prediction for Today, June 18: API3 May Cross Above $2.0 Level

The API3 price prediction could set a bullish run if the market can attempt to climb back above the resistance level of $2.0.

API3 Prediction Statistics Data:

  • API3 price now – $1.38
  • API3 market cap – $5.3 million
  • API3 circulating supply – 36.9 million
  • API3 total supply – 110.9 million
  • API3 Coinmarketcap ranking – #333

API3/USD Market

Key Levels:

Resistance levels: $2.5, $3.0, $3.5

Support levels: $0.5, $0.3, $0.1

API3 Price Prediction
API3USD – Daily Chart

According to the daily chart, API3/USD is running a little retracement move toward the 21-day moving average with a price growth of 8.62%. For the fact that the coin is recording some gain, the API3 price may continue to maintain a sideways movement within the channel if the coin can stay above the 9-day and 21-day moving averages. Therefore, traders can expect the price to continue to rise as soon as the bulls put more pressure on the market.

API3 Price Prediction: API3 May Demonstrate Bullish Movement

The API3 price is seen hovering above the 9-day moving average at around $1.38 but if the coin slides below the support level of $1.15, the market price may slide back towards the lower boundary of the channel. But if the price continues to follow the upward movement, traders can then expect a bullish continuation as the technical indicator Relative Strength Index (14) moves to cross above the 50-level, the possible resistance levels could be found at $2.5, $3.0, and $3.5 in the long term.

Moreover, if the coin keeps the bullish movement for the next couple of days, traders may witness more of it reach higher levels. Meanwhile, the API3 price is currently range-bounding in the short term. Inversely, any bearish movement towards the south could roll the coin back to the long-term support levels at $0.5, $0.3, and $0.1.

When compared with Bitcoin, API3 is facing upward movement, trading above the 9-day and 21-day moving averages. In case of a trend reversal, there is a need for an increasing volume and resistance to cause an upsurge in the market.  At the moment, the API3 price is hovering around the 774 SAT. Any bearish movement below the current market value may locate the close support at 500 SAT and below.

API3BTC – Daily Chart

However, if a bullish move continues to push the price above the moving averages to hit the nearest resistance at 800 SAT; traders can confirm a bull run for the coin and the closest resistance could be located at 1000 SAT and above as the technical indicator Relative Strength Index (14) moves to cross into the overbought region, suggesting bullish movement.

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VeChain At Risk Of Further Losses? VET Price Drops 30% In Downtrend

The crypto market continues on its downtrend, and VeChain (VET) follows after expiring some relief over the last weekend. The cryptocurrency recently breached a major level of support and seems poised to expand its downside price action. Related Reading | Fed Announces Inflation Warnings As Bitcoin Whales Remain In Wait Mode At the time of writing,::Listen

The crypto market continues on its downtrend, and VeChain (VET) follows after expiring some relief over the last weekend. The cryptocurrency recently breached a major level of support and seems poised to expand its downside price action.

Related Reading | Fed Announces Inflation Warnings As Bitcoin Whales Remain In Wait Mode

At the time of writing, VET’s price trades at $0.022 with a 3% and 32% loss over the last 24 hours and the past month respectively.

VET’s price trends to the downside on the 4-hour chart. Source: VETUSDT Tradingview

According to crypto analyst Justin Bennett, VeChain lost a major area of support when it broke below $0.024. As seen below, this area was the last line of resistance for a “neckline” or a trendline that saw VET’s price after an increase in previous selling pressure.

Not everything is lost for the bulls, the analyst believes, as long as VeChain is capable of holding above $0.021. This area is a “much more significant support for the market”.

In case of further downside action, VET’s price could drop into this support line before seeing some relief. If the price manages to get back above the neckline, it could support a bullish continuation.

However, traders should wait for confirmation if VET’s price can return to $0.024 and then to $0.026. Beyond that point, $0.028 seems like a very important area of resistance.

Bennett believes it seems more possible that VeChain will continue on its downtrend:

Resistance for VET is around $0.0237, which is the neckline it broke below yesterday. All in all, the market looks relatively weak. So even if we do see some additional relief, I think a move to at least $0.016 makes the most sense right now.

Traders should watch out for a daily close below current levels or $0.022. This could hint at potential losses targeting the levels mentioned by the analyst.

VET’s price breaks below the neckline of support on the 4-hour chart. Source: Justin Bennett
What Could Save VeChain In The Long Run?

As NewsBTC reported, VeChain is currently in the process of deploying a major consensus update. This could facilitate the corporate adoption of the blockchain VeChainThor and inject fresh capital into the ecosystem. However, this will positively impact VET’s price over the long run.

In the short term, Bennett claims the current macro conditions don’t support bullish momentum in the crypto market. The analyst recently pointed out a “Head and Shoulders” pattern formed on the crypto market total capitalization 4-hour chart.

Related Reading | Ethereum Rising Gas Fees are Still Concerning But Presents Opportunity For Decentralized Exchanges

This pattern often precedes further losses by a certain asset. The total crypto market cap currently stands above $800 billion and could crash into the $700 billion if the pattern plays out. Any long positions, at current levels, seem at risk, as Bennett explained:

$TOTAL is a perfect example of how to use a failed head and shoulders to your advantage. That failure offered a short opportunity. I never thought to long this because of the established downtrend. I was always expecting it to fail.

API3 Price Prediction for Today, June 18: API3 May Cross Above $2.0 Level

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