$AUDIO /USDT – Bullish Breakout Setup After Consolidation

Current Market Overview:

Audius (AUDIO) has recently spiked from $0.0606 to $0.0680, demonstrating a clean breakout with strong buying volume. The price is now consolidating near $0.0643, suggesting that bulls are still in control and may push for another leg up.

The Relative Strength Index (RSI) is trending above 50, indicating bullish momentum. The price is also above the 50-period moving average, confirming the upward trend.

Trade Plan – Long Setup:

Ideal Entry: Enter a long position between $0.0640 and $0.0650 on a minor dip after the breakout.

Stop Loss: Place the stop loss just below the recent low, around $0.0625, to protect against a deeper correction.

Target 1: Set the first target at the recent high retest near $0.0685.

Target 2: Aim for the next resistance around $0.0700.

Risk-Reward:

Target 1: Approximately 2.5x reward compared to the risk.

Target 2: Approximately 4x reward if the breakout continues.

Logic Behind the Trade:

This is a textbook breakout from consolidation with strong volume. The sudden upward surge shows bulls overpowering sellers, with no significant resistance until above $0.0700. A clean retest of the breakout zone around $0.0640 can offer a safer entry for continuation.

Profit Probability:

Moderate-High (~70%), as long as the price holds above $0.0640 and overall market sentiment remains supportive. A failure to hold above this level could turn the breakout into a bull trap.