AUDIO/USDT Downwards trendline broken. 100MA as next targetAUDIO broke out of the downwards trend indicated with the yellow line.
The volume is very low and AUDIO has a hard time recovering also with the 100MA just above acting as new resistance.
Once the 100MA is crossed more investors are likely to turn bullish again and with it the volume will rise.
Middle target is 2.7$ and the ATH target is around 4$.
Audius in contrast to other music plattforms gives the money to the content producers.
Checkout their Twitter page:
twitter.com
and their webpage:
audius.co
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
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Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
