Exploring Audius: Unraveling the Decentralized Music Streaming Protocol

Today, let's delve into a protocol named Audius, which operates as a decentralized music streaming protocol. Here, artists can upload their music and earn native tokens called AUDIO. This protocol primarily operates on the Ethereum and Solana ecosystems. Music is primarily streamed to listeners through the use of nodes and mobile applications.

The team recently partnered with the popular content creator platform TikTok. For updates on their recent activities, one can follow their Twitter account.

On the monthly timeframe, the coin displays a bullish trend. In the long term, I anticipate it reaching up to $2.50. However, if they manage to onboard current celebrities onto their platform, the potential for growth could be even higher.

On the weekly timeframe, it displays bearish tendencies. A deviation is noticeable at zero points, indicating a potential drop followed by a rebound. The next candles may give a week's worth of insight, after which the bottom may confirm, and the price may trend upwards.

On the daily chart, liquidity is observed around $0.19 to $0.18. Conversely, there is a lower low creation, suggesting a potential liquidation hunt in the coming weeks, followed by an upward price movement.

Considering the short-term timeframe, namely the four-hour chart, liquidity is observed around $0.30. The price may initially grab this liquidity and then drop to zero points to five, followed by $0.20, with the potential to reach as high as $0.70.

Finally, it's essential to emphasize that this blog does not serve as financial advice. It solely represents my personal analysis. I hold no responsibility for any losses incurred by those who choose to follow it.