Audius is a blockchain-based decentralized music platform designed to give artists control and remove the limitations of traditional music streaming services. The project has grown rapidly with a growing community of artists and users joining. Here is a comprehensive analysis of Audius, with the latest updates from the platform, and recommendations based on Stocknai factors.
1. Qualitative Analysis
âą Project Review: Audius is becoming a prominent platform in the decentralized music industry thanks to its integration of the stablecoin USDC for artist payments. This gives artists easy access to stable income without depending on third parties.
âą Competitors: Audius stands out from competitors like Spotify and Apple Music in that control is in the hands of the artist. With the integration of USDC payments, Audius offers a more flexible, transparent, and secure payment method.
2. Quantitative Analysis
âą Market Capitalization: The current market capitalization of AUDIO coin is around $200 million, with a total supply of 1.1 billion AUDIO. The current value of AUDIO on major exchanges tends to fluctuate around $0.18 - $0.25 depending on market fluctuations.
âą Volume: AUDIO's daily trading volume on major exchanges such as Binance and Uniswap shows good liquidity and has remained relatively stable recently.
3. Technical Analysis
âą RSI (Relative Strength Index): AUDIO's RSI shows that this coin is not in the overbought or oversold zone, with the RSI level usually fluctuating around 45-50. This shows a neutral level in trading.
âą MACD (Moving Average Convergence Divergence): MACD has a close convergence, there is no clear sign of a sudden price increase in the short term.
âą Bollinger Bands: Bollinger Bands show that AUDIO volatility remains stable, and the short-term price trend may maintain the current level, with no signs of a strong breakout.
4. Volume Analysis
âą Trading Volume: AUDIO's trading volume over the past 24 hours has increased, indicating growing buying demand in the short term. This usually signals growing investor interest.
5. Wyckoff Analysis
âą Accumulation Cycle: AUDIO has been in an accumulation phase recently. With the launch of USDC payment feature, it is likely to attract attention and investment from the user community, leading to a price increase in the future.
6. Elliott Wave Analysis
âą Corrective Wave: AUDIO may be going through a minor corrective wave at the moment. If we follow the Elliott wave theory, a bullish move may occur in the next waves as the base expands further.
7. Dow Theory Analysis
âą Main Trend: AUDIO's long-term trend remains bearish since peaking in late 2021. However, in the short-term, an accumulation and recovery trend is forming.
8. Probabilistic Analysis
âą Monte Carlo Simulation: Given the recent price movements and the project's positivity, the probability of AUDIO's short-term growth is around 60%, with the potential to reach $0.30 in the next few weeks.
âą Backtesting: Looking at previous periods when there were positive events such as feature upgrades, AUDIO tended to have short-term growth, with returns ranging from 15-30%.
9. Market Sentiment Analysis
âą Market Sentiment Assessment: Through platforms like Reddit and Twitter, community sentiment towards Audius is positive, especially when it comes to the USDC payment feature and the platform's growth potential.
10. Internal Momentum Analysis
âą Cash Flow Analysis: Cash flow into AUDIO has shown signs of a slight increase after news of USDC payment integration. The participation of large investors or funds could boost the growth momentum.
11. Quantum Analysis
âą Quantum RSI & Bollinger Bands: According to the quantum indicators, AUDIO's price may continue to fluctuate within a narrow range, however, the probability of a breakout within the next 1 month is quite high, when the RSI and Bollinger Bands divergence signals converge.
Recommendation:
âą Long Term Trend: AUDIO is in the accumulation phase, but with the development of the platform, especially the integration of USDC payments, there is a possibility that the price will grow in the medium term.
âą Strategy: For long-term investors, this could be a good time to accumulate AUDIO, with a price growth target of 30-50% in 3-6 months.
âą Entry Price: AUDIO's current price around $0.20-$0.25 could be a good price to buy.
âą Target: A reasonable target would be $0.35 in the next 3-6 months.
âą Stop Loss: Set a stop loss around $0.15 to ensure risk management.
Thus, Audius with its moves to expand features and integrate payments with USDC has presented a lot of potential for future value growth.
