- The Audius crypto has witnessed a decline in its open interest over the last 24 hours.
- The price of the AUDIO crypto is highly volatile.
Audius is a decentralized music streaming platform on Solana, offering transparent rights ownership and direct artist-fan interactions. Founded by Roneil Rumburg and Forrest Browning, it rewards artists with its native token, AUDIO. Audius enables free music streaming, plans stablecoin integration, and leverages Solana’s scalability for efficient transactions.
The fully diluted market cap of the Audius crypto is $228.115M, and the maximum crypto supply has not been disclosed. Furthermore, the circulating supply of the crypto is 1.21B AUDIO, and the total supply is 1.249B AUDIO.
The value of the traded volume for the Audius crypto has increased by 8.2% in the last 24 hours. This further results in a traded value of $17.028M. Also, the market cap value of the crypto is $219.738M.
Audius has a market cap ranking of #254 per CoinMarketCap, and the crypto volume/market cap ratio is 7.55%. The crypto price is highly volatile, resulting in 8.03%, and the crypto market cap dominance is 0.01%.
The supply of Audius crypto is also high, resulting in 21.34%, and the sentiment of the crypto is also bearish, followed by a fear and greed index presenting greed. Moreover, the all-time high price the crypto achieves is $4.99.
The prince of the crypto has declined by 96.25% from its all-time high price. Bitcoin and Ethereum further outperformed the price by 98% of the top 100% crypto assets in the last year.
Audius Crypto Derivatives Data Analysis
AUDIO has consistently witnessed higher long liquidations over the last few weeks. This further represents the consistent dominance of sellers in the market. The volume of crypto derivatives has further seen an advance of 34.7% in the last 24 hours.
Also, in the last 24 hours, the recorded long liquidation for the crypto is worth $164.37K, against which the short liquidation is just $6.55K.
AUDIO Crypto Technical Analysis
Witnessing huge volatility in the trading price of crypto, it has faced a massive sell-off, which has caused the price of crypto to decline below a crucial dynamic trendline.
The AUDIO crypto has been taking support at a dynamic trendline for a long time, leading the price to higher levels. A certain sell-off came in the crypto market, which led to a decline of 45% in the trading price of the crypto in just one week.
This further shows sellers’ dominance and indicates a further decline in the trading price of the crypto.
AUDIO/USD Chart by TradingView
The price of the AUDIO crypto has declined below the 200-day EMA. Despite this, the 50-day and the 200-day EMAs are trading in a golden cross, but the strong declining momentum of the crypto suggests the possibility of further decline in the price of the crypto.
The MACD is also giving a strong sell signal as the MACD and the signal line have declined below the zero level and are trading in a bearish cross. Also, strong bearish histograms are formed on the chart.
The RSI has also declined to the oversold zones and is currently trading at 29.0. This further shows that the RSI is following a bearish cycle on the daily chart.
Summary
Audius crypto faces bearish sentiment as it breaks below a crucial dynamic trendline, with declining open interest and high volatility. Despite a golden cross in EMAs, strong sell signals from MACD and RSI in oversold zones suggest further price decline. Derivative data indicates consistent dominance of sellers.
Technical Levels:
- Support levels: $0.100 and $0.1300
- Resistance levels: $0.3700 and $0.500
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.