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Audio Coin worth it? The bulls return



Audio (AUDIO / USD) is down over 50% from its highs and is now finally showing signs of reversal. It has been falling steadily since November and has finally found support in the USD 1.3 price zone. Audio is an ERC-20 governance token that supports the Audius protocol. It is based on an Ethereum-compatible blockchain, similar to that of Polygon (MATIC / USD). It enables the token holders to have a say in new projects and to give them voting rights.

It now looks like audio is headed for the $ 2 mark, so this could be a great opportunity for investors to get into audio. However, investors need to be careful not to get in too early as audio could drop further. Should you buy audio in hopes of a $ 2 goal?

  • Audio broke out of a symmetrical triangle in early November but was unable to sustain the breakout and fell sharply shortly afterwards. It broke off a crucial support level at $ 1.8, causing audio to drop even further to $ 1.4.

  • Audio received support from the support zone at $ 1.4 and it looks like this may be the tipping point for audio so an entry can be made soon.

  • A bullish RSI can also be seen, which indicates a reversal and could also be the start of a rally into the $ 2 zone.

  • Investors can set a target of $ 2, followed by $ 2.6 in the coming months.

  • Investors need to be careful as audio has been very weak for the past few weeks and could therefore continue to fall and a stop loss below the zone must be maintained.

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