Audiera's token BEAT has rebounded after significant volatility. The token had become a hot commodity after surging over 1000%, but then plummeted 88% in June. Recently, after a correction of approximately 45%, BEAT has recovered to around $3.67, with market focus shifting to the token unlock on August 1st.
Prices rebounded to near the upper edge of the channel.
Looking at recent price action, BEAT has regained strength after several weeks of consolidation, with its price structure showing a pattern of continuously rising highs and lows. The article mentions that the current price remains above the key retracement level of approximately $3.09, which is considered short-term support.
Compared to the previous correction phase, market momentum has recovered somewhat. The RSI has returned above 60, indicating stronger buying pressure. Meanwhile, open interest has also begun to recover after the pullback, typically signifying the re-entry of new funds into the market.
If prices continue to rise, the first resistance level the market is watching is around $4.71. A break above this level could move the next target range to around $6.01. Conversely, a breach of $3.09 could weaken the short-term rebound structure, and prices may retest the $2.50 to $2.80 support zone.
21.25 million tokens will be unlocked on August 1st.
The more closely watched variable in the short term is the upcoming token unlock. Audiera plans to release 21.25 million BEAT tokens on August 1, which are estimated to be worth approximately $67.8 million according to the article.
- The unlocked amount represents approximately 6.9% of the circulating supply.
- The corresponding value is approximately US$67.8 million.
- It is approximately 1.8 times the recent average daily trading volume.
Such events typically raise market concerns about selling pressure, as newly issued tokens may directly enter the trading market. For BEAT, the ability to absorb these new tokens after unlocking will be a crucial factor in determining whether the rebound can continue.
Increased trading volume indicates the market is awaiting further developments.
Despite expectations of increased supply, BEAT's recent trading volume has continued to rise, indicating a corresponding increase in market participation. If buying pressure can absorb the newly circulating tokens, the price rebound could find further support.
However, if a concentrated sell-off occurs after the unlock, short-term volatility could be significantly amplified. Going forward, the $3.09 support level and the $4.71 resistance level will be two key price levels for determining the market's direction. Whether BEAT can rise above $5 largely depends on the liquidity on the unlock day and thereafter.
