Technical Analysis of TAO/USDT according to the attached image on a 15-minute interval:
Current Situation:
Current Price: 274.9 USDT
The general trend on the short interval appears to be sideways leaning down after losing upward momentum.
There is strong resistance near 287.1, which is a previous reversal point.
The most significant support currently is at 267.1, as shown on the chart.
Indicators:
Short-term moving averages are crossing downwards (negative signal).
There was a previous overbought condition followed by a sharp drop.
The price is hovering around the moving averages intersection, indicating a phase of fluctuation.
---
Technical Targets:
In case of a breakout upwards (sustained breach of 276.5):
Target 1: 280
Target 2: 284.5
Target 3 (Strong): 287.1
In case of a breakout downwards (breach of 272.5):
Target 1: 270
Target 2 (Strong Support): 267.1
Target 3: 264
---
Advice:
Careful monitoring of the 267.1 level is essential, as a breach may lead to accelerated decline.
Entering trades is preferred to be after a clear breakout or rebound with strong trading volumes.
