The AUDIO price (Audius token) has taken support near its major support zone of $0.1700, which signifies a bearish trend on the charts. Moreover, the token price has breached its key EMA support zone near $0.2000 and entered a bearish trajectory, replicating underperformance for the past weeks. Following the market downturn, the token has faced high profit-booking and eroded over 46% in the past two weeks.
At press time, the Audius token (AUDIO) price traded at $0.1949 with an intraday gain of 5.37%, reflecting neutrality on the charts. It has a monthly return ratio of -38.22% and -41.90% on a yearly basis. The pair of AUDIO/BTC is at 0.00000294 BTC, and the market cap is $170.66 Million. Analysts are neutral and suggest that the AUDIO token may attain strength and will replicate a bounce ahead.
AUDIO Price Volume Profile On Daily Charts
The above chart replicates the price-to-volume profile of the Audius token (AUDIO) following selling pressure in the past sessions. Moreover, the coin has breached its neckline support region of $0.2000, and a decline of over 38% was spotted in the past two weeks. The intraday trading volume dropped over 54.89% to $10.97 million.
Price Volatility and Weighted Sentiment Overview
Amidst the price rebound, the price volatility curve noted minimal fluctuations and stayed below the midline around 0.0232, delivering a negative outlook. However, the weighted sentiment looks positive and stayed above the midline, noted around 0.139, favoring the upside.
Social Dominance and Twitter Followers Insights
The above data showcased the social dominance data replicating a down move over 3.27% and dropped to 0.067%, replicating a decrease in the discussion reports on media platforms in the last session. However, the Twitter followers data noted minimal fluctuations, witnessed an increase of over 3.90%, and is staying around the midline around -95, indicating a negative outlook.
Development Activity and Total Open Interest Overview
Per the Santiment data, the development data witnessed a decline and slipped over 3.27%, noted around 124, glimpsing a neutral outlook. However, the derivative data signifies long unwinding data, and the open interest dropped by 1.23% to $5.19 Million.
Per the Fib levels, the AUDIO token price is hovering around the 23.6% zone, depicting a negative outlook. However, the RSI curve stayed in the oversold region, and a bearish crossover was noted on the charts.
The total supply of the AUDIO token is 1.23 Billion, whereas the volume-to-market cap ratio is 0.0638, and it ranked 291 in terms of market cap in the global crypto market.
Summary
The AUDIO coin signifies a rebound of over 27% and secured the demand region near the $0.1800 mark. However, the token depicts follow-on selling pressure and trading below the key moving averages.
Technical Levels
Support Levels: $0.1850 and $0.1700
Resistance Levels: $0.2000 and $0.2200
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
