audius

Audius Token Report – 31st May’24

AUDIUS Token Report

Audius is a decentralized music streaming protocol that was originally built on the POA Network but has since transitioned to Solana. The platform was created to address the inefficiencies in the music industry, particularly the lack of transparency in music rights ownership and the presence of intermediaries that separate artists from their audience.

AUDIO is ranked #279 with a market capitalization of nearly $245 million. The current market price of the token is 0.2 USDT

On the daily time-frame, the AUDIO/USDT trend had broken above the descending trendline a few days ago. The trend is currently re-testing the breakout levels with good volume support. The price is expected to bounce back from this level. An immediate support is expected at 0.176 USDT and next resistance is expected at 0.27 USDT.

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Weekly Market Report – 27th May’24

WEEKLY MARKET REPORT

 

NASDAQ – Global leading Tech Index

The NASDAQ Index gained by 1.4% in the last week. The next critical support is expected at 18,400 level and immediate resistance is expected around 19,800 levels for the coming week

The top gainers for the week were Moderna, Nvidia & Analog devices gaining around 25%, 15% & 9% respectively.

The NASDAQ Index is expected to continue the upward trajectory.

 

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market continues to remain in the GREED zone. Compared to last week, the Fear & Greed Index increased from “70” to “74”

 

BITCOIN – aSOPR

aSOPR for this week is equal to 1 which indicates that the investors are selling their Bitcoins at breakeven price.

 

CVDD-TOP CAP PRICE CHART INDICATOR

Bitcoin is expected to continue its upward movement. As per the above model, Bitcoin’s cycle top price prediction is around $362,000 

 

BITCOIN MVRV Z-Score

The period highlighted by the z-score (orange line) entering the pink box, indicates the top of market cycles. It also shows when market value is far below realized value, highlighted by z-score entering the green box. Currently we are in the middle of the bull cycle

 

Bitcoin chart

$BTC price gained around 3% in the previous week. Bitcoin’s price bounced back as expected, the immediate support is expected at $59K and next resistance is expected at $80K. Bitcoin is expected to continue its upward trajectory

 

ETH/BTC

ETH/BTC pair is breaking out of the descending channel. An immediate support is expected at 0.043 level and resistance is expected at 0.060 levels

 

NIFTY

Nifty gained around 2% in the last week. It is trading in an ascending channel, an immediate support is expected around 21,700 levels and resistance is expected around 23,650. Nifty is expected to continue its upward momentum

 

PICK OF THE WEEK – KFIN TECH 

 

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Get deeper insights into the crypto market’s weekly trends discussed on our Spotify podcast.