Connect with us

Plato Vertical Search

Blockchain

Audius (AUDIO) breaks bearish trend to rally 20% in a few days – should you buy

Audius (AUDIO) breaks bearish trend to rally 20% in a few days – should you buy Blockchain, Featured, Home CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

Audius (AUDIO) has finally managed to break its downtrend, rallying 20% as sentiment on the broader crypto market improves. The surge has however lost some of its momentum but it is still holding steady. At the time of writing, the token was trading at $1.9, up nearly 5% in intraday trading. Here are some of the highlights:

  • Although the token has surged, it is still trading at nearly 70% down from its 2021 all-time high

  • The token was also down nearly 30% in December, and the recent surge only serves to repair some of these losses

  • Despite these headwinds, Audius (AUDIO) is still 1000% up year to date

Audius (AUDIO) breaks bearish trend to rally 20% in a few days – should you buy Blockchain, Featured, Home CoinGenius Hosts Virtual Crypto Event The Road To Mass AdoptionData Source: Tradingview.com 

Audius (AUDIO) – price action and analysis

The recent crypto correction we saw during much of December had a huge toll on Audius (AUDIO). The token saw slumps of nearly 30% this month, but it has managed to repair some of those losses. AUDIO has also pushed beyond its 50-day moving average of around $1.68, suggesting an uptrend is starting to gather steam. 

The next challenge would be to roar above the 100 and 200 daily moving averages of $2.047 and $2.125 respectively. So far, the token is testing the 100 DMA but is yet to make any decisive break. This could suggest that the bullish breakout that saw the token gain 20% is losing momentum.

Should you buy Audius (AUDIO)

From just fundamental analysis alone, there is no doubt Audius (AUDIO) is a decent investment for long-term value. But the price action in recent months has been quite volatile. 

Even with this recent surge, we don’t see Audius (AUDIO) breaking beyond its 100 and 200 DMAs. So, even though in the long term there is a lot of value to unlock, in the short term it’s very risky at the moment.

The post Audius (AUDIO) breaks bearish trend to rally 20% in a few days – should you buy appeared first on Coin Journal.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://coinjournal.net/news/audius-audio-breaks-bearish-trend-to-rally-20-in-a-few-days-should-you-buy/

Latest Blockchain Streams

Blockchain

The SEC rejected the spot Bitcoin application from Skybridge giving a plethora of reasons for their decision. The regulator had previously delayed giving a...

Blockchain

Blockchain-based play-to-earn massively multiplayer online (MMO) strategy game Heroes of Mavia has closed its $5.5 million seed funding round. Several top investors such as...

Blockchain

Bullish STX price prediction is $1.750 to $2.722. The STX price will also reach $4 soon. STX bearish market price The post has appeared...

Blockchain

Following the drop in value during Thursday evening’s trading sessions, Bitcoin’s mining difficulty rose to a lifetime high, reaching 26.64 trillion after jumping 9.32%...