AUDIOUSD broke above the Bear Cycle Lower Highs and the 1D MA200

The AUDIO token (AUDIOUSD) broke today above the Lower Highs trend-line that was formed on November 18 2021, effectively being the declining Resistance that shaped the trend of the Bear Cycle. Today's move is a major confirmation of the new Bull Cycle as it also broke above the 1D MA200 (orange trend-line) for the first time since April 05 2022.

The 1W RSI is still on neutral levels, indicating that there is still significant miles left on the current uptrend. We may see the first pull-back soon though as the price is approaching a major Resistance cluster, the 1W MA50 (red trend-line) and the 0.382 Fibonacci level, which was a long-term rejection zone from May 11 to August 11 2022. From that point onwards, every lower Fibonacci level is a potential Support and every upper is a target. Our major target on a 4 month basis is 1.1000, which is the 0.618 Fib (Golden ratio).


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