AUDIO coin price shows a Doji formation following the bullish engulfing candlestick that tests the 200-day EMA. Should you consider buying this breakout?

Key technical points:
<ul>
 	<li style="font-weight: 400">AUDIO prices have increased by 4.95% in the past 24 hours.</li>
 	<li style="font-weight: 400">In addition, the 50-day EMA approaches the 100-day EMA for a bullish crossover.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Audius is $291.41 Million, marking a 70% rise.</li>
</ul>
<h2>Past Performance of AUDIO</h2>
AUDIO coin price has increased by 113% from the sudden reversal of the $0.67 mark in the past month. The bullish reversal started with the 47% engulfing candlestick on March 19th. The uptrend continued with a rounding bottom breakout followed by a 25% bullish engulfing candlestick on April 3rd.

<img src="https://s3.tradingview.com/snapshots/z/ZveBrAOm.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/ZveBrAOm/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>AUDIO Technical Analysis </h2>
AUDIO coin price action includes an extended range Doji candlestick retesting the bullish breakout of the 200-day EMA. Hence, the possibility of an uptrend crossing above the $1.50 mark increases substantially. 

The crucial daily EMAs (50, 100, and 200-days) display bearish alignment, but the evident reversal increases the chances of bullish crossovers. Moreover, the price sustaining above the 200-day EMA projects a bullish signal.

RSI Indicator: The RSI slope finally enters the overbought zone after a consolidation range formation above the halfway mark. Moreover, the 14-day SMA supports the bearish retracements and helps keep the uptrend in motion.

MACD Indicator: The MACD and signal lines avoid a bearish crossover in the daily chart with a sudden bullish reversal in the fast line. Hence, the indicator remains bullish for the altcoin.

The AUDIO technical analysis forecasts a bullish continuation above the $1.50 mark as the buying pressure grows.
<h2>Upcoming Trend </h2>
The <a href="https://www.cryptoknowmics.com/news/audio-technical-analysis-breakout-aims-at-5-mark-within-days/">AUDIO</a> coin price reflects a high momentum bullish, surpassing multiple resistance levels as new buyers line up.  Hence, traders can find buying entry spots at market price as the uptrend shows potential reaching the $2 mark.

Support Levels: $1.2 and $1

Resistance Levels: $1.6 and $2

AUDIO Technical Analysis: Will The Breakout Rally Sustain Above $1.50?

AUDIO coin price shows a Doji formation following the bullish engulfing candlestick that tests the 200-day EMA. Should you consider buying this breakout?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

AUDIO Technical Analysis: Will The Breakout Rally Sustain Above $1.50?

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