API3 Price Prediction: API3 Surpasses $1 – Focused on Disrupting Oracle Space

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The API3 native token, API3, is among the most cryptocurrencies suffering from the bears’ excessive pressure. The coin is down significantly from its all-time high by over 90%. But there have been some positive signs since the start of the third quarter.

On August 6, the coin recorded a massive gain that pushed its price from $0.8 to a monthly high mark of $1.45 on that same day. This represented a significant uptick of nearly 100% in just a few hours.

Unfortunately, this price increase was short-lived as many traders or investors sold the token to make a profit. Since then, the market has been dropping gradually, raising speculations about whether the coin might recover from the dip or if it is at the end.

However, in the last 24 hours, there has been a positive turn of events as API3 has bounced back, trading above the $1 price region.

According to CoinGecko, API3 trades at $1.04 with a 24-hour trading volume of over $34 million. This represents a decrease of almost 1% in the past 24 hours and a 7% price increase in the last seven days.

API3 Technical Analysis Using Indicators

After several days of steady price decline, the API3 token shows potential recovery today as the market has broken above the short-term bearish trendline. The daily green candle indicates that the buyer is entering the market, though the pressure is not high.

Based on the chart, API3USD is heading towards the upper band of the Bollinger Bands indicator. This could mean that the price might keep going higher for a bit, suggesting a sign of increased volatility.

The upper band of the Bollinger Bands can act as a potential resistance level. When the price reaches the upper band, it might have a more challenging time going higher, and the price could decrease.

However, if there is a drop in buying activities and sellers take control, the market might dip to the lower band of the technical indicator to act as a key support level.

Notably, once the price touches this lower band, it might have a better chance of bouncing back up, and the price could increase.

The MACD is attempting to move up and cross over the signal line. This could indicate that the trend might be changing from down to up. This is a point where traders often pay attention because it could mean a potential market shift.

In addition, the Relative Strength Index (RSI) 51 shows that the market is more favorable to the bulls than the bears. The RSI level suggests that the buying strength has outweighed the bulls.

However, an RSI level above 70 may suggest a potential trend reversal or short-term correction in the market. This situation could present both opportunities and risks for traders and investors. So, it’s a good time to stay informed and watch how things develop in the market.

Potential Retracement Level

Looking at the chart, the asset market is forming a bearish candle, indicating either the sellers are pushing down the price or the bullish momentum is dropping.

However, there is a key support located at $0.8200, where API3/USD may likely rebound from as some investors might be waiting for the price to drop toward this region.

Market recovery from the $0.82 support level may target the potential resistance zone at $1.45. Also, with added bullish momentum, the price of API3 might break this resistance and hit the next level at $1.74.

This represents an increase of over 74% compared to its current price of $1.04, giving investors significant gains.

Latest Development Within Ecosystem Might Drive Up Price

API3, a company that provides data to computer programs, is entering a new stage of its ongoing technology plan. In the first step, API3 created a self-funded system allowing computer programs to talk.

Managed dAPIs have officially launched on the API3 Market.

DeFi protocols now have a more secure push oracle solution with multi-source, decentralized data feeds powered by first-party oracles.

120+ data feeds
on 11 networks
with 0 middlemen#StraightFromTheSource

🧵1/8 pic.twitter.com/A5mzt62jCp

— API3 (@API3DAO) August 16, 2023

This system gets information from a single source, like a single book, and is controlled by Ugur Mersinlioglu. Now, API3 is in the second step of this system. They’re releasing a new way to gather information from many places and put it together.

This new way lets users choose how different the information can be and when it should be collected. The team working on this project announced this new step on August 16.

API3’s recent move into a more advanced phase, providing customizable data feeds, has the potential to affect the value of its associated cryptocurrency positively. This step could attract a larger user base, increasing demand for the API3 coin.

The upgraded technology might make API3 more competitive, further enhancing its cryptocurrency adoption. While this advancement is promising, conducting thorough research and exercising caution before making investment choices is essential.

Meanwhile, investors not convinced by API3’s performance can look into Wall Street Meme. The meme coin is ready to shake the entire crypto space once it becomes tradable.

API3 Alternative for Investors – Wall Street Memes (WSM)

For investors with a unique attraction to meme coins, Wall Street Memes (WSM) is a good API3 alternative to explore the intrigues of memes.

WSM has introduced an exciting and engaging platform for meme enthusiasts through its revolutionary approach in the industry. It comes with a low price, allowing investors of all levels to participate without monetary limitations.

The Wall Street Memes presale that has been ongoing is gradually approaching its end as it enters the final stage. According to the WSM official website, the presale will wrap up within 28 days.

WSM witnessed a massive adoption as investors flocked massively to buy the tokens. Within its few months of running, the presale generated more than $25 million.

The presale price for WSM is $0.0337 per coin, allowing investors to purchase the meme coin at a reduced price. Meme enthusiasts should heed the final call and rush to buy WSM using Ethereum (ETH), Tether (USDT), or credit/debit card.

Already, the team plans to list WSM on tier-one exchanges once the presale ends. This will be an attractive edge for the project as it enters the open crypto market.

What Makes WSM a Unique Investment

The development team behind Wall Street Memes (WSM) laid out some strategic plans for the project. It aims to revolutionize the meme coin sector using WSM and ensure the sustainability of the token.

Wall Street Memes provides a staking program for WSM holders to stake their tokens and get high-valued yields. The staking process is an excellent approach for users to make passive income that runs into 100% APY on the platform.

With its massive adoption, the WSM staking pool has recorded almost 150 million locked WSM. Tokens. The system could get more participation with the increasing rush from investors.

Additionally, WSM is designed to highlight transparency and sustainability through its clear tokenomics.

Wall Street Memes has a maximum supply of two million coins. The team set out 50% (one billion tokens) of the supply for the project’s marketing. 30% is allocated to the project’s community rewards, while 20% is shared equally for DEX and CEX liquidity.