API3 Price Prediction 2021 – Will API3 Hit $15 Soon?

API3 Price Prediction 2021 – Will API3 Hit $15 Soon?
  • Bullish API3 price prediction ranges from $6.05 to $10.65.
  • API3 prices might also reach $15 soon.
  • API3 bearish market price prediction for 2021 is $2.34.

In API3 (API3) price prediction 2021, we use statistics, price patterns, RSI, and much other information about API3 to analyze the future movement of the cryptocurrency

Smart contracts mostly struggle to access dependable information, however application programming interfaces (APIs) have been provided as a solution to this issue. Moreover, the API3’s aim is to enhance decentralized versions of APIs to be developed, managed, and monetized at scale. 

More so, as blockchain technology plays an ever bigger role in the economy from decentralized finance to supply chain management. Added to this, the team behind this project says it has never been more important for smart contracts to offer “timely, reliable real-world data.”

Let us see about the API3 price prediction 2021.

Current Market Status of API3 (API3) 

According to CoinGecko, the API3 price is trading at $5.43 with a 24-hour trading volume of $7,722,286, at the time of writing. More so, API3 has decreased by 4.94% in the last 24 hours. 

Currently, API3 trades in cryptocurrency exchanges such as OKEx, Huobi Global, Hotcoin Global, ZT, and KuCoin.

API3 (API3) Price Prediction 2021

API3 (API3) holds the 446th position on CoinGecko right now. API3 price prediction 2021 is explained below with a daily time frame. 

API3/USDT Showing Descending Triangle Pattern (Source: TradingView)

The chart above indicates the descending triangle pattern of API3. The descending triangle is most commonly seen during downtrends and is often interpreted as a bearish signal. The descending triangle pattern is the reverse of the ascending triangle pattern.

As the price continues to make lower lows, descending triangles indicate to investors and traders that buyers are less aggressive than sellers. Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern, traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.

Currently, API3 is trading at $5.43. After this, API3 may continue to fall or rise according to the direction of the breakout. With this pattern, API3 might reach the resistance level at $5.8 soon. If the trend reverses, then the price of API3 may fall to $1.8.

API3 (API3) Support and Resistance Level

The API3ow chart shows the support and resistance level of API3 (API3). 

API3/USDT Support and Resistance Level (Source: TradingView)

From the above chart, it is considered that the following are the resistance and support levels of API3 (API3).

  • Resistance Level 1 – $6.05
  • Resistance Level 2 – $7.83
  • Next resistance level – $10.65
  • Support Level 1 – $3.87
  • Support Level 2 – $2.34
  • Next support level – $1.49

The chart depicts the bullish performance of API3 over the previous month. However, this trend will continue to reach a resistance level at $10.65 soon. Even more, if the trend reversed then API3 might fall to $2.34 presenting a bearish signal.

API3 (API3) Average Directional Index (ADX)

Let us now look at API’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

  API3/USDT ADX (Source: TradingView)

The above chart represents the ADX of API3. Currently, API3 lies in the range of 39.24, so it indicates a strong trend. This shows that the price of ADX can go bullish in the future.

Conclusion

API3 is one of the cryptos which is great for long-term investment. In addition, API3 price prediction is bullish for a short term. It has a good chance of reaching $7.83 by the end of this year. More so, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the API3 ecosystem, the performance of API3 would rise reaching $10.65 very soon. But, it might also reach $15 if the investors believe that API3 is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.