Audius Breakout Analysis – AUDIO Pumps +40% in a Single Day

By Malik Junaid December 18, 2020 In Crypto News, Market Analysis, Trading

The cryptocurrency Audius AUDIO just went up over +40% in a single day. Let’s take a quick look at AUDIO, price analysis, and possible reasons for the recent breakout.

What is Audius?

Audius is a decentralized music-sharing and streaming protocol that facilitates direct transactions between listeners and creators, giving everyone the freedom to distribute, monetize, and stream any audio content.

Audius Quick Stats

Global rank:314
Market cap:$39,592,849 AUD
Current price:$0.3289 AUD
All-time high price:$0.6990 AUD
1 day:+40.52%
7 day:+55.15%
1 year:+176.33%

Audius Price Analysis

At the time of writing, AUDIO is ranked 314th cryptocurrency globally and the current price is $0.3289 AUD. This is a +55.15% increase since 11th December 2020 (7 days ago) as shown in the chart below.

Source: TradingView

In the past week, there was a strong rise in Bitcoin, Ethereum, and Ripple. As a result, Audius (AUDIO) also formed strong support near $0.2586 before starting a fresh increase against the AUD.


If we see the above 4-hour candle chart, AUDIO is forming a Rising Wedge pattern and is now currently trading at $0.3289 AUD after a successful breakout today. The next resistance is on the $0.4125 AUD price levels which can be broken any time soon if AUDIO keeps trading in the uptrend with strong buying volume.

“A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.”

Source: TradingView

If we zoom out and take a look at the price over the past few days or so, we can see the recent breakout more clearly, the price chart looks in a strong uptrend which is good for long-term growth.

What do the Technical indicators say?

The  AUDIO TradingView indicators (on the 1 day) mainly indicate AUDIO as a buy, except the Oscillators which indicate AUDIO as a Neutral.

So Why did AUDIO Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up AUDIO to their portfolio for the next Altcoins rally. It could also be contributed to some of the recent news of Audius Mainnet.

Recent AUDIO News & Events:

Where to Buy or Trade Audius?

Audius has the highest liquidity on Binance Exchange so that would help for trading AUDIO/USDT or AUDIO/BTC pairs. However, you can also buy AUDIO from different exchanges listed on Coinmarketcap.

Malik Junaid

Malik Junaid

Malik is a skilled writer with a background in Software Engineering. His interests are blockchain, cryptocurrency trading and market analysis.

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