AUDIUS is the first decentralized music streaming platform developed on the Ethereum blockchain and can also be considered a major competitor to SoundCloud.
In addition, users can not only access music at the highest quality level around 320kbps but users can also listen to music without restrictions.
The AUDIUS platform is also one of the direct transaction facilities between listeners and creators which gives everyone the freedom to share and stream any audio content.
The AUDIUS protocol is powered by the AUDIO token. On April 9, the platform launched Audius Collectibles for the purpose of inviting their artists to showcase and NFT merchandise in the web3 ecosystem.
Looking at the AUDIO/USDT chart, the AUDIO price movement continued to maintain a bearish trend starting at the May market opening for the price to trade at the lowest support level around $ 0.60.
The $ 0.60 low support level was also the hardest level to break in the March market before the price continued to make jumps above 1,000%.
If the AUDIO price moves again, the $ 0.80- $ 1 support level will be the main focus of investors to test before the price is expected to head to the SBR (support become resistance) level around $ 1.40.
If the price movement manages to break the SBR level of $ 1.40, it is likely that the price will test the next SBR level around $ 1.90.
With the price increase, it will also indirectly give a clear signal to investors for the AUDIO price to return to display a bullish trend.
However, if the AUDIO price movement continues to move in a bearish trend, the price is expected to retest the low support level of $ 0.60 before heading to a lower price level.
A lower price drop will test the resistance level around $ 0.35 to determine the direction of the next price movement.
As of 5.30pm local time, the AUDIO price is down more than 1% to trade at a price level of around $ 0.73.
