Audiera breaks $4 resistance to hit 7-month high as BEAT market cap crosses $1 billion

Audiera [BEAT] extended a record-breaking rally on June 7, breaking the $4 resistance level and reaching a 7-month high of $4.359. At the time of writing, the token traded at $4.31, up 86.7% over 24 hours, with its market capitalization surpassing $1 billion and 24-hour volume rising 124% to $121 million.

Derivatives activity tracked the move higher. Open Interest climbed 79% to $268 million, while derivatives volume jumped 191% to $1.9 billion, indicating traders deployed significant capital to open new futures positions. The Long Short Ratio stood at 1.05, with Binance's top traders at 1.2, indicating a majority of positions on the long side.

Even as prices rose, selling pressure built. According to CoinGlass data, Audiera recorded positive Spot Netflow for three consecutive days, hitting a record $2.8 million on June 7 before easing to $1.5 million at press time. A positive Netflow signals that sellers have dominated the market during the price uptick. On-chain engagement remained weak, with Santiment's Price DAA Divergence staying negative over the past week, a period that coincided with the strong price action.

The Relative Strength Index reached 92, placing BEAT in overbought territory, though its signal line had pulled back to 70 as some traders took profits, particularly amid concerns over a trend involving Binance Alpha tokens. Whether the rally extends toward $5 or reverses on a long squeeze toward $1.5 will depend on whether buyers can sustain the current level of speculative demand.