- The coin price has declined by 2.62% in the last 24 hours.
- The Audio’s chart reflects bearish sentiment over the price.
Short Description of Liverpeer Token
Audius was founded by Roneil Rumburg and Forrest Browning in 2018, it was launched as a remedy for inefficiencies in the music industry which is plauged nu intraparent music rights between owners and intermediaries. It is a decentralized music streaming protocol built on POA networks. It aims to align the interests of fans and artists through its platform powered by AUDIO tokens.
AUDIO Coin (LPT) Technical Analysis
The Audius coin is trading at $0.1493 with a 24-hour trading volume of $3,426,741. The price of the coin has been running down by 2.23% in the last 24 hours. The Coin Market Cap ranking of the coin is 143 with a market cap of $166,773,025. It has a market circulating supply of 1,113,298,607.
The coin price has been in a downtrend since it created its year-high of $0.5268. The price usually follows the same pattern where it consolidates in a narrow range and then falls. Currently, the coin price has also consolidated in a narrow range of $0.1623 to $0.1420.
If the price again gives the breakdown of the $0.1420 level then it may continue its downtrend and could fall to its support at $0.1100. However for the price to be in bullish sentiment the buyers should close the price above $0.1623. Then it may rise to $0.1940.
Technical Indicator About The Trend
The Audio coin price is trading below the 50 and 200 ema lines. Recently, The coin price has also faced rejection from the 50 ema line and formed a bearish candle.
The relative strength index is at 46.03 and the RSI line sloping in the downward direction indicating the price is in bearish territory and has more room for sellers on the downside.
The long/short ratio of Audio coin shows that the short positions are 51.1% and the long positions are 48.9%. This indicates the short positions have slightly placed more than the long positions.
The technical indicators are pointing toward the average selling pressure at the time of writing.
Conclusion
The Audio coin price is bearish at the time of writing. The price has been following a pattern where the price consolidates in a range and starts to fall. The price is again consolidating in a narrow range of $0.1623 to $0.1420. If the price gives the breakout of the range then the price may reach its next resistance mentioned above. However, for the price to continue its downtrend it should give the breakdown of the range. Then it may fall its mentioned support above.
Technical levels
Resistance Levels: $0.1623 and $0.1940.
Support Levels: $0.1420 and $0.1100.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.