JeanJean1983

AUDIO/USDT: No clear directional - Still under bearish pressure

BINANCE:AUDIOUSDT   AUDIO / TetherUS
---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------

AUDIO/USDT: No clear directional - still under bearish pressure

Context
- The Global Crypto market leads by BTC and ETH reversed drawing a new bullish trend - However Audio Coin is underperforming ETH on a longer run
- A trading range between the Neutrality area is more likely at this stage, a bearish attack can't be ignored with this set up
- Watch 0,58 resistance to reintegrate to give a positive signal


Market configuration

- Graphical Elements :
Graphical Resistance = 0,58 & 1,83
Graphical Support = 0,27 & 0,08

- Mathematical Indicators:
EMA ( Exp Moving averages) are still capping the market = Bearish
RSI indicator (below) is mixed without clear signal to analyse = Neutral / Bearish

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (C) B are at 0,27, however we can't find them lower at 0,17
Fibonacci resistance of the wave in progress = 0,58
Fibonacci support of the wave in progress = 0,27


Conclusion

Really tricky configuration, watching Audio versus USDT, ETH or BTC all the configuration are leaning towards a further bearish pressure. Only the global crypto market outlook are calling for a possibility of bounce towards 0,58.

For now the most likely scenario is a trading range between 0,27 and 0,58, but only 0,58 reintegrated would give a clear bullish signal.

CIO & Head of market research (Automata - Akt.io)

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