Today’s trading session marks the third day where Audius prices have gained in the market. The cryptocurrency is also showing signs of a high volatility market, with today’s prices gaining more than 4 per cent.
Why is Audius surging?
In a technical analysis article that I wrote on March 23, I predicted that the prices of Audius would jump to the $1.25 resistance level. This came after Audius had surged by 47 per cent on a single day. Today, with the prices having recovered from the short corrections, it is important to at what is causing the surge in prices.
One of the reasons Audius is surging in the markets is traction from users. Recently, it was revealed that artists such as Katy Perry, Nas and Jason Derulo had chipped into a funding round for Audius. This investment was huge for a platform such as Audius that deals with giving artists freedom for their content.
It meant that they were connecting with their target audience. It also meant that their efforts were starting to pay off as more artists were likely to follow the lead of the three artists. Another reason for the surge is the increase in users and possibly sharks who are now bullish and buying Audius. For instance, in the last 24 hours, Audius has increased by over 25 per cent in its trading volume. This means more people are adopting the project and buying its tokens.
Audius Price Prediction
The Audius Price has already broken the $1.25 resistance level. Although currently trading slightly below the level, the early session breakout is a glimpse that the cryptocurrency has enough volatility. Looking at the chart below, we can also see the Williams Alligator indicator also shows signs of an aggressive market.
Therefore, my Audius price prediction expects the prices to hit the $1.48 resistance level in the coming days. I also expect the prices to likely move past the resistance level and possibly trade at the $1.5 psychological level. The current bullish trend is also likely long-term, which means there is a possibility the cryptocurrency will continue pushing up throughout the year.