#WhiteHouseDigitalAssetReport technical analysis of the TAO/USDT (4H chart) with a trade plan including entry, stoploss, and target levels:💥💥💥
🔍 Technical Analysis Summary:
🕯️ Price Action:
Price is in a clear downtrend.
Most recent candle shows a strong bullish wick, suggesting buying interest near support (~$343).
Current price: $354.3
Recent low: $343.4 (potential support)
Price is below both short-term moving averages (MA5 and MA10), indicating bearish momentum.
📉 Moving Averages:
MA5 (White): 359.0
MA10 (Yellow): trending down
Both MAs are above the current price, acting as resistance.
📊 MACD:
MACD line: -2.36, DIFF: -14.41, DEA: -13.23
MACD is in deep bearish territory, but beginning to flatten out, signaling possible bottoming.
📈 Volume:
Recent spike in green volume bar, indicating buying pressure around the $343–$354 range.
📌 Trade Strategy: Countertrend Bounce (Short-Term Buy)
✅ Entry Zone (Long):
$348–$355
Near recent support and where volume increased.
❌ Stop Loss:
$339 (just below the recent low of $343.4)
A break below this level would invalidate the bounce setup.
🎯 Target Zones:
TP1: $364 – Near MA resistance and recent breakdown zone.
TP2: $375–380 – Previous support turned resistance.
TP3: $390+ (only if price breaks MA and gains momentum).
🧠 Trade Idea Summary:
ParameterValueEntry (Buy)$348 – $355Stop Loss$339Target 1 (TP1)$364Target 2 (TP2)$375–380Target 3 (TP3)$390+Risk TypeMedium (countertrend)
⚠️ Key Notes:
This is a countertrend bounce setup. Confirm strength with:
Bullish candle close above MA5/MA10.
MACD histogram turning green or bullish crossover.
If price fails to reclaim $364–$370, exit early or tighten stop.
Consider trend continuation short if price rejects from $364–$370.
Would you like a trend-following short trade setup as well?
#TAO/USDT #TAO🔥🔥🔥🔥 #MarketPullback $TAO $SOL