AUDIUS Price Prediction: Is AUDIUS Coin Aiming towards $0.4?

• AUDIUS Price Prediction highlights the decline of $AUDIO Token by 35.83% in the last 3 months
• AUDIUS Token witnessed a Year-to-Date Growth of 43.43%

AUDIUS Price Prediction showcases the bearish sentiments for AUDIUS Coin as the prices kept declining since April. AUDIUS Coin is trading at $0.1840. The Market is up 7.30% at the time of writing. The 24H Volume witnessed a fall of 42.09%. The overall market cap of $AUDIO Token is $188,196,056.

AUDIUS has teamed up with NeoPetsMeta to host a contest. Artists can create a new track and get a chance to get an in-game feature and a share of the $2000 prize pool. The deadline for entries is 4th Of July.

AUDIUS Price Prediction: A descending channel can turn the tide

According to the Daily Chart, Audius Crypto had a great start to the year with a bullish rally of 200% to $0.4.  After multiple attempts to breach the resistance, The market started to show weakness and the bears began dominating. This led to a decline of almost 55% to its current price level.

AUDIUS Price Prediction highlights the massive rejection at $0.4 which is evident by the formation of an inverted hammer with a long wick. AUDIUS Crypto price is traveling in a descending channel. The breakout of this pattern can kickstart a bullish rally which may pump the prices up by almost 70%.

Volatility increased: Technical Indicators

On the 4H Chart, $AUDIO Coin is moving sideways. The curiosity rises as the prices inch towards the resistance. The 200 EMA aligns with the upper trendline of the channel which marks its significance. Bulls are gathering strength from the breakout but the Sellers are also ready to push the prices down.

Investors should wait for a confirmed breakout with a big volume to consider an ideal entry. Volatility is rising at the moment which can be a great opportunity but also carries a high risk. Audius will encounter its first hurdle at $0.216. A takeover of this resistance will clear the path for at least a 25% move before its next pit stop at $0.2734

RSI: The RSI indicator is currently at 50.89 on the 4H. It means the market can be sideways

MACD: The MACD is about to make a bullish crossover. The Histogram highlights the loss of momentum of the sellers. The indicator is still below the 0 lines. It represents sideways conditions

200 EMA: As observed, on the 4hr, the price is trading below the 200 EMA(exponential moving average) which acts as a significant resistance. This is a clear indication of a downtrend where the sellers are in control and for a trend reversal, the price must break and trade above the 200 EMA.

Conclusion:

AUDIUS Price Prediction showcases the bearish sentiments for AUDIUS Coin as the prices kept declining since April. Technical Indicators still maintain a bearish outlook. A break of the descending channel may shift the sentiments which may help AUDIUS recover to $0.4. Volatility is increasing and investors are advised to follow a good risk-management plan to make the most out of this situation.

Technical levels

Support Levels: $0.1640- Support 1

    $0.1246- Support 2

Current Price: $0.1840

Resistance Levels: $0.2181 – Resistance 1

          $0.2374 – Resistance 2

Disclaimer:

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