Our Audius price prediction depends on the bulls’ ability to hold the key psychological level of $1. Audius crypto had a bearish start of the year, with the cryptocurrency dipping to the lows of $0.67. However, there was massive support at that level as the Audio price bounced off multiple times. After bottoming out in March 2022, Audius coin surged by more than 170% but faced rejection from $1.82.
Audius music is a decentralized streaming platform. Audius founders, Roneil and Forrest, initiated the project when SoundCloud started to have regulatory issues in certain jurisdictions. Another reason was the fact that most of the music industry’s revenue goes to the middlemen. This includes agents, concert promoters, and record labels. Audius aims to remove their cut and direct most of the revenue towards the artists.
Audius price prediction is looking fairly bullish in the long term as the platform is gaining traction. Now artists can directly post their music on Audius crypto platform and also interact with their fans. Audio token is the native asset of the platform that gives governance rights and privileges to the users. Audius coin is available on Ethereum as an ERC-20 token.
Technical analysis of Audius price chart shows that the coin has got brutally rejected from the $1.82 level. The volume shows that many big investors captured the liquidity at those levels. At the time of writing, the price is trading at $1.03 and battling with the key support of $1. A daily close below $1 could take it potentially from $0.92 to $0.83. Consequently, delaying our bullish target for Audius price prediction by months.
Nevertheless, if the current level holds, then the next major resistance for Audius price might be the $1.30 level. A reclaim of this level can send Audius token to $2, a 100% gain from the current price. This level is also 0.382 Fib retracement region connecting March 2021 ATH of $4.95 to the March 2022 lows. Currently, price is 80% down from its all-time high, which suggests that current level could be a nice long-term entry.
This post was last modified on Apr 13, 2022, 14:27 BST 14:27