Audius price has dropped by close to 30% since surpassing the psychological level of $2.5000 earlier in the month. The altcoin is on a downtrend despite the risk appetite that has been defining the crypto market in the current month.
The crypto fear & greed index is back to the extreme greed end of the spectrum at a reading of 78. In the previous session, the greed level was lower at 71. In comparison, the index reflected fear in the previous month at 32.
Audius price forecast
Audio has eased after hitting an intraday low of 1.8478. Since reaching the month’s high at 2.5675, it has dropped by about 28.58%.
At the time of writing, Audius price was down by 8.69% at 1.8415. On a four-hour chart, it is trading below the 25 and 50-day exponential moving averages; which hints at further losses. Besides, with an RSI of 32, it is an inch away from entering the oversold territory.
In the near term, the altcoin will likely continue find support at 1.8450. It may rise slightly in an effort to return to the neutral RSI of 50.
On the upside, the resistance level to watch out for will be around the psychological level of 2.0000. In particular, Audius price may find resistance along the 25-day EMA at 2.0270. On the downside, a move below the current support level will push it to the resistance-turn-support level of 1.7535 or lower at 1.5804.