Cryptocurrency prices exploded in 2021, but the new year brought a price crash that nullified most of the previously made achievements. Audius (AUDIO), for example, just returned to the lows that it previously saw during the summer of 2021, after a crash that robbed it of over 75% of its price.
Audius in 2021
Audius was launched in October 2020, with a price of $0.19. After launch, however, its price dropped to the all-time low at $0.08, around November 3rd. However, as 2020 ended and 2021 came closer, the price started growing again, climbing back to $0.19, and even reaching $0.45 by mid-February 2021.
While the resistance at $0.5 initially prevented it from moving forward, a sharp surge that took place in early March ended up taking it to an all-time high at $4 in only 4 weeks. AUDIO hit a milestone at $4.0447 on March 27th, and this level has never been reached again since.
The coin corrected to $1.6 by April 23rd, only to recover to $2.6 by early May. Another correction to just below $2 took place after that, and the coin seemed ready to recover again. However, that was in mid-May, which is when the market-wide price crash started, taking the coin to $0.92.
For several weeks, the coin fluctuated between $0.9 and a resistance at $1, but as the summer progressed, its price got rejected again, finding a new bottom at $0.66 around June 25th. Interestingly, AUDIO started behaving differently from the rest of the crypto industry at this point.
While most coins kept dropping until July 20th, when the situation turned and the market skyrocketed once more, Audius’ price started growing an entire month before, on June 25th. The climb continued for nearly two months, taking it to $3.29 on August 19th. After this, the coin corrected to a resistance at $2.5, and then attempted to recover, but was stopped at a resistance at $3.
The resistance rejected the coin’s price before it even came close to it, sending it down to its next largest support at $2. This one held the coin from dropping until December, and the coin spent a few months fluctuating between $2 and $2.5.
Around December 5th, however, the support finally broke, and AUDIO dropped even further down to $1.5. After reaching this level in mid-December, the coin recovered to a resistance at $2, attempting to breach it. Unfortunately, the resistance rejected it once again, and Audios ended the year with a price of $1.6.
AUDIO in 2022
As the coin entered the new year, many expected to see it recover from the drop that ended the previous one. However, it was not meant to be. The coin did manage to stay relatively stable for the first 5 days of January, balancing just above the support at $1.6.
However, the support broke later on January 5th, reaching the next one at $1.4. It broke that one as well, dropping to $1.3. It then saw a recovery to $1.5 reaching this level on January 13th, only to drop back to $1.4, and then again to $1.3 by January 18th. Unfortunately, this support failed as well, with the coin eventually sinking all the way down to $0.8 on January 24th.
Over the last few days, as the market started seeing a mild recovery, AUDIO also surged back a bit, but a resistance at $0.9 caused it to crash back down to its current price of $0.86.
To learn more about this token visit our Investing in Audius guide.
The post Audius (AUDIO) Price Drops Back to $0.8 for the First Time Since Summer of 2021 appeared first on Securities.io.
