Audio Token Showing Strong Buying Momentum; Can It Blast Higher?

The AUDIO token’s current price shows a strong buyer rejection wick on the daily chart, showing sellers are trying very hard to keep the price below the supply region.

The price structure is bullish as from November 2023, the price rose from the demand zone of $0.1300 and reached the supply zone at $0.3000, and this top price level highlighted its strength as the price dipped twice from the same level.

The AUDIO asset shows bullish traits and can grow more in future sessions. It has even demonstrated good performance over the daily chart in the past week, month, and three months by 6.56%, 28.80%, and 21.16%, respectively, indicating a reliable upward trend.

At the time of publishing, the AUDIO/USD is experiencing a surge of 6.34% in the last 24 hours, trading at $0.2383. The trading volume for the previous 24 hours on all available exchanges is 10.57 Million, and the market capitalization is 285.58 Million.

Since then, the crypto has displayed a sign of revival as the price Showed a hefty momentum from a critical level of around $0.2200 on the chart.

The AUDIO crypto looks like it is poised for a spectacular rally, as it seems it is gaining some buying momentum to smash the resistance level and soar to new heights from the current support level.

Can AUDIO Token Shows A Fruitful Rally Next?

The recent price structure for the AUDIO asset price shows bullish strength and rising potential as it has already shown a thrust upwards from the dynamic supports of the EMa and, at publishing time, stays above major 20-day and 50-day EMA’s.

Similarly, the crypto asset is in a strong uptrend, showing a strong bullish crossover with a broad histogram. MACD is at 0.0114, the signal line is at 0.0092, and the histogram is at 0.0022. Likewise, the RSI shows no signs of overbought conditions yet, suggesting that the AUDIO/USD crypto asset has more room to grow in the upcoming sessions.

Therefore, if the demand for the AUDIO remains high and sellers fail, the asset price could continue to ascend from the current level. Then, the next goal for the price could be to reach $0.5000, and the in-between resistance would be $0.3000.

Another possibility is that if the crypto price fails to sustain itself above the $0.2200 level, it could decline further and reach lower depths.

Summary

AUDIO/USD price highlights the bullish sentiments and perspectives regarding the crypto asset in the daily time frame. The AUDIO price action highlights a bullish view at the time of publishing, as it recently attempted to surge from a pivotal level. 

Moreover, the technical oscillators of the AUDIO/USD price suggest the continuation of the uptrend, reliant on the buyer’s surge, over the daily time frame chart. Major reliable indicators like RSI, MACD, and EMA suggest bullish gestures regarding the AUDIO price.

Technical Levels

Support Levels: $0.2200

Resistance Levels: $0.3000

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.