AMBCrypto had previously reported that Audiera (BEAT) fell 24% to $2.4 due to intense selling pressure. Interestingly, the downtrend was short-lived as the altcoin made a strong comeback.
BEAT rebounded from a $2.4 dip to reach a local high of $3.65. As of this writing, the altcoin was trading around $3.63, up 22% on daily charts.
At the same time, its market value increased by 15% to $1.12 billion. Worldoin (WLD) And Ethereum Classic (ETC)It signals a significant capital inflow. However, the altcoin’s trading volume dropped by 20%, indicating reduced market activity.
Audiera is recovering, driven by fresh whale demand.
Afterwards HIT When it fell below $3, high net worth investors came back with the power to save.
Accordingly Nazokua new wallet attracted 500k BEAT from Gate worth $1.36 million. The on-chain watchdog reported that the whale’s return signals sellers’ exhaustion.
At the same time Alexander observed a major shift in direction among major investors. The on-chain monitor noted that large amounts of money were withdrawn from exchanges, including $4.1 million from Gate and $1 million from MEXC.
Just a few days ago BEAT tokens were flowing into exchanges. This turn marks a change in sentiment. Often, the return of whales during market weakness preceded major price increases.
Market delta confirms this change.
According to Coinark data, the market delta turned positive after falling into the negative zone the previous day.
At the time of writing, Delta was at 12.2 thousand, indicating strong buying pressure. When demand exceeds supply in the short term, prices tend to rise further, especially if demand continues.
Unlocking $81 million worth of tokens raises major concerns
Even though Audiera has made a big trend reversal, it faces a big risk. This is because BEAT is leading the market with upcoming unlocks.
Audiera will unlock 21.25 million BEATs worth 81.66 million on August 1, according to CoinGlass data.
Unlocking the token will significantly increase the supply, thus potentially increasing selling pressure. Historically, major token unlocks have occurred before price crashes, and BEAT faces the same risk.
What do momentum indicators say?
Fueled by renewed whale demand, Audiera’s upward momentum remains relatively strong. In fact, the altcoin’s MACD remained on an upward trajectory, rising to 0.19.
At the same time, the Relative Strength Index (RSI) rose to 60, further confirming the strengths of the trend. With the rise of these two, Audiera looks well positioned for further gains.
Therefore, BEAT will return to $4 if buying pressure continues, especially from whales. However, if owners panic about upcoming unlocks, $3 may not be available.
Final Summary
- Audiera rebounded from a $2.4 dip as whales returned to defend key price levels, rising 22% to a local high of $3.65.
- Audiera leads weekly crypto unlocks 21.25 million BEATs worth 81.66 million will be unlocked on August 1st.
