The Audius cryptocurrency staged a recovery on Wednesday after closing in red for the last couple of sessions. The price rebounded from the 20-day exponential moving average and surged higher.
When writing, the AUDIO price was up nearly 7.12% intraday and was trading close to the $0.310 level. The Bulls are attempting to recover after losing for the first two sessions of the week.
Despite showing a strong closing in the previous week, the crypto started the week on a negative note on Monday. The bears tried to regain control of the trend and dragged the price down nearly 20% in the last two sessions.
Moreover, the price stayed above the 20-day exponential moving average and maintained a positive outlook. Now, if the buyers are able to recover the losses and sustain above the weekly highs, then the price may rise to higher levels.
Can Buyers Recover the Recent Losses or Fail?
Despite losing in the last two sessions, the short-term trend outlook lies on the bullish side above the 20-day EMA. The buyers have made a comeback and might erase the losses incurred in the forthcoming sessions.
On the upper side, the weekly high may act as a resistance, and the bulls may find it challenging to overcome the recent hurdle of the $0.36 level. Now, if the crypto surpasses the recent swing high of $0.36, it may unlock the price potential until the higher levels of $0.4 and $0.5.
Audius Price Technical Analysis
The technical indicators imply a positive outlook above the key exponential moving averages. Currently, the AUDIO cryptocurrency trades higher above the 20-day and 50-day exponential moving averages, suggesting a positive outlook in the short term.
When writing, the RSI line was at 61.08 points, and the 14-day SMA line was placed at 69.92 points. The RSI and SMA lines hover above the mean line, suggesting a positive sentiment prevailing in the market. Also, the RSI line has dropped back after entering into an overbought zone, indicating correction.
Audius Crypto Prediction March 2024
The price prediction of Audius crypto for March shows that the AUDIO crypto has rebounded from the 20-day EMA and might resume on the higher side. Fresh upside levels may be observed on the charts if the price surpasses above the $0.36 level.
On the other hand, if the sellers can defend the recent swing high and the rice breaks below the 20-day EMA, it may invite more selling volumes, and the crypto may dig lower.
Audius Price Prediction 2024
The price forecast for the year 2024 highlights that the AUDIO token price could reach a high of $0.571, suggesting a potential gain of over 88.73%. Moreover, the bearish outlook of the analysts is that the price could reach $0.455 by the year’s end.
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 or stock comes with a risk of financial loss.
