Audius (AUDIO) has lastly managed to interrupt its downtrend, rallying 20% as sentiment on the broader crypto market improves. The surge has nonetheless misplaced a few of its momentum however it’s nonetheless holding regular. On the time of writing, the token was buying and selling at $1.9, up almost 5% in intraday buying and selling. Listed here are among the highlights:
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Though the token has surged, it’s nonetheless buying and selling at almost 70% down from its 2021 all-time excessive
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The token was additionally down almost 30% in December, and the current surge solely serves to restore a few of these losses
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Regardless of these headwinds, Audius (AUDIO) remains to be 1000% up 12 months up to now
Knowledge Supply: Tradingview.com
Audius (AUDIO) – value motion and evaluation
The current crypto correction we noticed throughout a lot of December had an enormous toll on Audius (AUDIO). The token noticed slumps of almost 30% this month, however it has managed to restore a few of these losses. AUDIO has additionally pushed past its 50-day transferring common of round $1.68, suggesting an uptrend is beginning to collect steam.
The subsequent problem can be to roar above the 100 and 200 day by day transferring averages of $2.047 and $2.125 respectively. Thus far, the token is testing the 100 DMA however is but to make any decisive break. This might recommend that the bullish breakout that noticed the token achieve 20% is shedding momentum.
Do you have to purchase Audius (AUDIO)
From simply elementary evaluation alone, there isn’t a doubt Audius (AUDIO) is an honest funding for long-term worth. However the value motion in current months has been fairly unstable.
Even with this current surge, we don’t see Audius (AUDIO) breaking past its 100 and 200 DMAs. So, although in the long run there may be loads of worth to unlock, within the brief time period it’s totally dangerous in the mean time.