AUDIO Technical Analysis: Bears Ready To Stomp $1 Support

AUDIO coin price fell 40% last week, increasing the chances of a downfall below the $1 mark as the price selling pressure increases. Key technical points: The AUDIO price approaches the $1 mark. The EMAs retain the bearish alignment in the daily chart. Finally, the 24-hour trading volume of Audius is $33.86 Million, marking a 50% rise. Past Performance of AUDIO AUDIO coin prices showcased a phenomenal rise of 47% on 19th March, resulting in a bullish engulfing candlestick breaking above the $1 mark. The post-retest reversal from the psychological barrier at $1 pushed the price higher to $1.75, accounting for a bullish growth of 160% within three weeks. However, the upcoming week resulted in a sharp correction of 40%. Source-Tradingview AUDIO Technical Analysis AUDIO coin prices undergo a correction phase resulting in a retracement to the $1 mark within a week from the $1.75 mark. However, the bulls are fighting back to withhold the psychological milestone. The essential daily EMAs retain a bearish alignment failing to sustain the uptrend and succumbing under the seller’s influence. RSI Indicator: The RSI slope shows a downtrend from the overbought boundary below the halfway line with the 14-day SMA breakout. Hence, the RSI value slips lower and approaches the oversold boundary. MACD Indicator: The MACD and signal lines give a bearish crossover and reflect growth in the bearish spread. And, with the increasing intensity of the ...