The Web3 API Economy (API3/USDT) Analysis 📈📉Hello Crypto community Welcome to this introduction for another high potential crypto project.🚀💰
🔹Rank #192 ,/ kind : ETH TOKEN / Market Cap:$209,697,968 ===> SO SO ✅
Total Supply: 110,978,134 /// Circulating Supply: 36,907,810.00 API3 (~ 34 %) ====> SO SO ✅
Holders Statistics: Top 10 Holders==> 87.6% //Top 20 Holders 91.57% ===> risky ❌📛
🔰What Is API3 (API3)?
Smart contracts often struggle to access dependable data, but application programming interfaces (APIs) have been touted as a solution to this problem.
API3’s stated goal is to allow decentralized versions of APIs to be built, managed and monetized at scales. As blockchain technology plays an ever bigger role in the economy — from decentralized finance to supply chain management — the team behind this project says it has never been more important for smart contracts to provide “timely, reliable real-world data.”
coinmarketcap-api3.org
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📈📉 TECHNICAL
As you can see on the dailyI timeframe for API3/USDT , It is trading about $5.7 right now.
Since 7 April 2021 ,after recording a new ATH (10.5 $) ,
it has been declining and was compressing in symmetrical tringle.
and recently it has been successful to breakout this triangle and ,
have weekly close above it ,although it faced to local resistance and
decreased again ,which I consider it as pullback on descending trendline
or support zone right now , that can start to rise again in the next days
or next week .but take it in mind, if it go down below the green support area ,
in this case it can fall again even to lower support area .
🛑resistance level: $7 /$8-$8.4
❇️support levels: $4.56-$5/ $3.3 /$2.13
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👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
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