The Audius price action on the daily chart shows a pair that is now trading sideways following the steep decline from the 18 November flash spike. That was when the pair was listed on a notable exchange. However, the enthusiasm died off very quickly as that listing got caught up by the correction in the crypto market.
The launch of NFT ember features and the integration of Discord and Twitter on the platform in late November has not had the desired effect of promoting a demand for the token. However, it is still possible that 2022 could see this feature drive more adoption of the token, especially as it is now possible to download stems and source files on mobile.
Following Monday’s weak decline that tested the bottom of the range, the Audius price action has bounced off that level and is back towards the range’s ceiling. This could be the story of the token until the end of the year, as the approaching holidays could mean a weak of low volumes in the crypto market.
Audius Price Outlook
The Audius price outlook on the daily chart shows an asset that could range trade for some time to come. However, a break of the range’s ceiling at 1.73615 could allow for a recovery on the AUDIO/USDT pair, targeting 1.89195 and 2.17745 in sequence. 2.55855 could serve as an additional price target to the north.
On the flip side, a breakdown of the 1.41275 support opens the door for 1.06065 to enter the picture as an additional downside target. A further decline brings the 25 June 2021 low at 0.64795 into mix.
AUDIO/USDT: Daily Chart
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