- AUDIO price surged 15% in the intraday session with an 1800% spike in volume, as per CMC.
- Technical indicators for Audius are in favor of an uptrend. A 16% growth in the ETH pair was recorded.
Audius is a decentralized music platform for creators built on Ethereum. They offer artists a way to connect with the audience without the need for a third party. It was founded in 2018 by Roneil and Forrest. Artists can publish songs on the Audius ledgers. The music is streamed at 320kbps at no cost. Content nodes of the protocol maintain the content on the network which are elected by the artist themselves.
The number of users on Audius has grown steadily; it stands at 81,122 at the time of writing. Meanwhile, the number of transactions on the protocol has seen 2x growth in the past few months. The number of monthly active users declined over the past few months. Audius has gained strong traction since its launch and could see strong growth in the future.
Audius has a market cap of $381 Million and is ranked 104th in terms of market capitalization. Trading volume surged by 1800%. Volume to market cap ratio of the asset price hints at an upside trend.
Will AUDIO Hit $1 Soon?
AUDIUS weekly technical chart hints towards a weak upside trend in price. It recently spiked up to $0.5, which is big. The asset price is trading at around $0.38 with a gain of 12% intraday. The upside trend of AUDIUS can see a halt near $0.5. Meanwhile, a downside move in AUDIO price can see a bounceback from $0.3. It is forming huge spikes in the daily chart indicating selling pressure. It is trading above the 50 and 100 Daily Moving Averages. There can be a positive crossover in the future which can push the Audius price to a new high.
The RSI of the asset is near 76 suggesting its presence in the overbought zone. There is a positive slope in it hinting towards a bullish trend in price.
Summary Of Audius Price Prediction
AUDIO recorded a massive spike in trading volume in the past 24 hours with a sharp rise in price. Various analysts suggest a strong upside momentum in the AUDIUS price.
Technical Levels
Audius Price Prediction
Major Support:$0.3
Major Resistance:$0.5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/04/19/audius-price-prediction-a-breakout-will-it-sustain-above-0-5/