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Audius Price Analysis: AUDIO Price Failed to Sustain Above Previous Swing High, are  Buyers Here?

Analytics

www.thecoinrepublic.com 23 July 2022 19:52, UTC
  
Reading time: ~2 m

  • Audius token looks a bit bullish after reversing from its recent lows.
  • The Audio token is trading above the green zone of the Super Trend indicator.
  • The Audius token belonging to the bitcoin pair is down 4.2% at 0.00001643 satoshis.

The Audius token recorded a sharp decline between April 15 to May 15 with bear dominance. Buyers witnessed the 2022 low of $0.2617 during the downtrend. Buyers well settled the altcoin price near the May low which was the first sign of a bounce.

After reversing from 52-week lows, buyers are dominating the Audio token. Thus buyers bought each drop over the past few days while the price looked above the uptrend trendline (white). Thus buyers recently exited the downsloping trendline (bottom of the chart) in the last week.

Source: Audio/USDT By Tradingview 

Meanwhile, Audio Token is trading at the $0.377 mark when writing against USDT. The Audio token is up 6.5% this week amid a roller coaster ride. Despite the uptrend, the weekly price candle draws an inverted hammer candle on the weekend. Nevertheless, the Audio token is trading above the green zone of the Super Trend indicator during the daily price scale.

According to CMC, the market cap of Audius Coin has fallen 5% in the last 24 hours to $274 million. Furthermore, the Audius token belonging to the bitcoin pair is down 4.2% at 0.00001643 satoshis. However, the trading volume is gradually increasing amid the altcoin price rise.

RSI Indicator Shows Bullish Trend 

Source: Audio/USDT By Tradingview 

During the daily time frame window, the RSI indicator remained above the semi-line. On behalf of the following indicator, buyers are dominating the Audio price near the uptrend line (blue). Furthermore, the ADX indicator is looking down, which suggests low volatility in the Audio crypto.

Conclusion

The RSI indicator shows a slight correction in the Audius token as the RSI takes support at the peak semi-line (50 points). The altcoin again fell below the $0.40 mark and the bulls need to break the previous swing highs.

Support level – $0.30 and $0.25

Resistance level – $0.40 and $0.50

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.


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