---- 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.