Technical Analysis API Helper-real-time crypto market insights

Example

If a user requests the latest technical analysis for Ethereum (ETH), the API fetches data such as RSI (Relative Strength Index), SMA (Simple Moving Average), and VWAP (Volume Weighted Average Price). For instance, if Ethereum's RSI is above 70, the API would interpret this as a potential 'overbought' condition, advising caution.

Scenario

A day trader wants to make a short-term trade and needs to know whether ETH is currently overbought or oversold. By accessing the API, they get a quick snapshot of the RSI value, allowing them to decide whether to sell or wait.

Example

The API allows users to get a sense of the market mood based on social media platforms like Reddit. For instance, if Bitcoin (BTC) sentiment is largely negative, this could indicate potential sell pressure or investor fear.

Scenario

A long-term investor wants to understand how the broader crypto community feels about BTC before deciding to buy more or hedge their existing position. They consult the sentiment data to gauge the emotional and psychological trends in the market.

Example

If a user requests a detailed view of the VWAP for a specific asset like Solana (SOL), the API can generate a graph of the last 5 data points, showing the trend in relation to price. This visual data helps to quickly identify trends like bullish or bearish momentum.

Scenario

A swing trader needs to assess SOL's VWAP trend to determine whether the current market price is above or below average, helping them decide if the asset is being accumulated or sold off.