Audius Down by 15% as ANC Gains Massive Boost.

The last 24 hours have been one of the most dreaded for Audius and the rest of the crypto market. It lost more than 5% during this period as most cryptocurrencies tanked. Having surged above $2 trillion last week, it dipped as low as $1.98T – the lowest in the last 14 days.

One of the most affected tokens during the correction is Audius. it is down by more than 15% as of the time of writing. Currently on its third day of consecutive losses, the asset is yet to show any sign of recovery.

Audius Wipeout: Half of Its Accumulated Gains Lost

A strong start to the week saw the bulls believe there will be more uptrend as the week progressed. However, a change in prevailing market sentiment at the time happened on Tuesday as the token lost more than 13%.

The downtrend continued into the next intraday session and as AUDIO lost 15%. Currently down by a few percent, if the most recent state of the market is not changed, the price decrease will continue.

Last week, the asset under consideration saw a positive price change of 37%. It has since lost almost 40% of these gains. It seems unlikely that the downtrend will be halted soon as the Moving Average Convergence Divergence (MACD) indicates that the token is about experiencing a bearish convergence.

ANC Experienced  a Bullish Divergence

While most projects were down by a few percent, Anchor Protocol saw a significant increase. A closer look at MACD reveals that the token experienced a bullish divergence. This signal heralds the start of the uptrend.

Additionally, the asset is currently in its second consecutive day of gains. It has amassed a more than 10% in profit. The said indicator is still on the rise and is showing no signs of dipping. If the bulls sustain the most recent momentum, a retest of the pivot point may take place within the next three days.