- Trading volume dropped by 40% in the last 24 hours.
- The Audius crypto price has declined by 56% since March.
Since March, the AUDIO price has declined due to a trendline’s resistance. The price has formed a base at the $0.150 mark and bounced back. During this bullish momentum, the digital asset price triggered a breakout from the 200-day EMA but failed to sustain.
The fake breakout from the 200-day EMA resulted in a strong selling pressure of 23%. In the past few days, the price has tried multiple times to exceed the trendline, but sellers seem strong and are heading toward the major support level of $0.150.
The Audius price traded at $0.171 at press time with a neutral momentum in the past 24 hours. The market capitalization is $210.85 Million, and the 24-hour trading volume is $21.16 Million.
AUDIO Price at Crucial Level of Breakout
This is for leverage traders not investors . $AUDIO can likely break out . If it does it can do 10-15% .
If it breaks out , I’ll enter with a 10x leverage risking 1% *10x leverage =10% loss . pic.twitter.com/SJO8gCRyX5
— Blockchainedbb (@blockchainedbb) June 14, 2024
A user on X suggests that the Audius crypto price is at the crucial breakout level. The price may jump by 10-15% after the breakout, but this suggestion is for leverage traders, not for investors.
Will the AUDIO Price Extend to $0.500 After the Breakout?
During the daily time frame, the Audius price has been declining due to resistance from a trendline. Currently, the AUDIO crypto price is at the crucial level of breakout.
If the price triggers a breakout from the trendline and sustains it, then most of the buyers might show interest. Assuming the Audius price starts trading over the $0.300 hurdle, buyers may be eyeing the $0.500 mark.
Track all markets on TradingView
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On the other hand, if the AUDIO crypto price fails to exceed the 200-day EMA, it may continue the previous momentum. Strong selling pressure can be seen if the price slips below the major support level of $0.150.
Turning to the technical indicators, the Audius price is trading below the key moving average, which demonstrates the bears’ grip. MACD has developed a death crossover with the Signal line and formed red histograms.
Performance
The Audius crypto price has remained neutral for a year with a change of 0.59%. The price has lost around 34.40% at YTD and 23% in the past 6 months. The AUDIO price has remained constant for a month.
Conclusion
Based on the recent price movements and technical indicators, the Audius (AUDIO) crypto price seems to be at a crucial stage. If the price manages to sustain a breakout from the current resistance and trendline, we may see a potential upside movement, possibly targeting the $0.300 and $0.500 levels.
On the other hand, a failure to break above the resistance and a drop below the major support level of $0.150 could lead to further selling pressure.
Technical Levels
Audius’s crypto price is expected to face resistance from the $0.235 and $0.350 levels. The price might take support on the $0.150 and $0.125 mark.
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.
The post <strong>Fake Breakout From 200-day EMA Seen; Will AUDIO Price Drop More?</strong> appeared first on The Market Periodical.