- Summary:
- The Audius price prediction sees the bounce on the 61.8% Fibonacci retracement level as being valid to retest the 0.365 price mark.
The Audius price predictions remain bearish in the medium term as the AUDIO/USDT pair heads into the weekend, attempting to sustain the recent break of the consolidation on the 4-hour chart. This break makes for viable near-term bullish Audius price predictions. Following a shortage of intrinsic bullish fundamentals, the price action on the pair will be amenable to various scenarios based on technical setups.
The sharp spike of 7 July enabled the pair to break out of the range’s ceiling at 0.349, but the price has experienced a short retracement. The Fibonacci retracement levels derived from a trace from the recent swing low to Thursday’s swing high have seen the price retrace to a level just above the 61.8% retracement level. The bounce from this point keeps the near-term bullish potential on the token active.
It seems a long time now that the Audius token surged 143% on its TikTok integration, an event which saw the AUDIO/USDT pair hit its 2nd highest level ever on 17 August 2021. It subsequently made its way to the record high at 4.148 on 18 November 2021 before the announcement of the discovery of the Omicron variant of COVID-19 sent the token spiralling downwards. It now trades at less than a tenth of its 18 November 2021 high, mirroring the price picture on hundreds of altcoins which have seen more than 90% of their 2021 highs eroded.
The AUDIO/USDT pair is down 1.94% as of writing but could still end the week higher if it holds on to earlier gains. It is currently up 3.52% this week despite languishing close to its all-time lows. So here is the Audius price prediction as H2 2022 kicks off in earnest.
Audius Price Prediction
The AUDIO/USDT pair is testing the 0.349 support, showing a slight bounce with the active 4-hour candle. A further extension of this move targets the 0.365 resistance, which has capped the intraday price action. A clearance of this resistance sends the pair toward the 0.392 price mark. 0.403 and 0.423 are additional price targets to the north.
On the flip side, a breakdown of the 0.349 support level allows the bears to push toward the floor of the recently broken range at 0.326. If the bulls fail to defend this support level, 0.306 (22 June low) and 0.293 () are the additional southbound targets that come into the mix. Finally, 0.270 is the site of lows seen on 13 June/19 June 2022. This point rounds off the near-term price milestones to the south.
AUDIO/USDT: Daily Chart
