AUDIO Technical Analysis: Bears Break $1 Support, Eye $0.85

The AUDIO coin price shows an overnight increase in supply inflow, breaking below the psychological mark of $1. Will the falling price reach $0.85? Key technical points: AUDIO market prices break below $1. The market price trades below all the crucial EMAs. The 24-hour trading volume of Audius is $35 Million, reflecting a fall of 20%. Past Performance of AUDIO AUDIO prices fail to sustain the bullish reversal from the $1 mark that started with a missing star pattern earlier this month. However, the reversal rally faced higher price rejection above the 200-day EMA resulting in a correction below the psychological mark of $1. Source-Tradingview AUDIO Technical Analysis The AUDIO price action shows the currently forming bearish candle reflects higher price rejection denoting a retest of the horizontal level breakout. Hence, the prices are most likely to fall to the upcoming support level with a rise in selling pressure. Falling to get a bullish crossover, the bearishly aligned daily EMAs turn flattish and project a high reversal possibility. Moreover, the EMAs fail to protect the uptrend and regain the bearish status to provide resistance. MACD indicator The fast and slow lines cross under the zero line as the selling pressure increases. Hence, the indicator projects a high possibility of bearish trend continuation. RSI indicator: The RSI slope reflects a gradual increment in selling pressure as the falling slope continues within...