Token

API3

Momentum

Pyth Network

<p>The price of API3, the native token underpinning the API3 decentralized Oracle network, has declined over 3% in the last 24 hours. At the time of this writing, API3 was trading at <a href="https://coinmarketcap.com/currencies/api3/" target="_blank" rel="noopener noreferrer nofollow">$3.97</a> based on data from CoinMarketCap.</p>
<p>This dip comes despite API3’s <a href="https://x.com/API3DAO/status/1760680896792015167?s=20" target="_blank" rel="noopener noreferrer nofollow">announcements</a> of new partnerships aimed at expanding its platform. API3 welcomed crypto data aggregator CoinGecko into its ecosystem of decentralized data feeds dubbed APIs. In an enthusiastic tweet, API3 described CoinGecko as “one of the most reliable &amp; comprehensive cryptocurrency data providers for traders &amp; developers.”</p>
<p>Integrating CoinGecko opens up the possibility for its extensive datasets across over 12,000 cryptocurrencies and 900-plus exchanges to flow directly into decentralized applications through API3’s Airnode infrastructure. Airnode represents the cornerstone of API3’s next-generation Oracle network allowing serverless and secure API connectivity without third-party dependencies.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-a-closer-look-at-the-price-trend-strong"><strong>Technical Analysis: A Closer Look at the Price Trend</strong></h2>
<p>Analysis of the daily price chart on TradigView reveals API3’s downward trajectory persisting after a period of consolidation. The token currently hovers precariously around the $3.974 level with the last candlestick printing red, signaling a potential continuation of the selloff.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="435" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-876-1024x435.png" alt="" class="wp-image-442845" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-876-1024x435.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-876-300x127.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-876-766x325.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-876-1536x652.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-876-2048x869.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-876-353x150.png 353w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-876-100x42.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-876-825x350.png 825w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-876-788x334.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-876.png 1263w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Momentum indicators also flash warning signs of a strengthening bearish bias. The relative strength index has turned downwards at 57.30, reflecting waning bullish momentum. Furthermore, a negative crossover taking shape in the moving average convergence divergence points to substantial additional downside room.</p>
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<p>The collaborations align with API3’s open-source approach to oracles aimed at advancing a decentralized web. However, price action often fails to immediately react to fundamental project developments in the volatile crypto markets. For now, API3 appears prone to short-term selling pressure as investors weigh news of the CoinGecko integration.</p>
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<p>The post <a href="https://captainaltcoin.com/api3-token-bearish-momentum-amid-major-partnership-here-is-why-its-price-could-dip-even-further/" rel="noopener noreferrer nofollow">API3 Token Bearish Momentum Amid Major Partnership: Here is Why its Price Could Dip Even Further</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

API3 Token Bearish Momentum Amid Major Partnership: Here is Why its Price Could Dip Even Further

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