💥$TAO /USDT Testing Resistance After breakout +3.78% Growth!🔥
🌟Current Price: 354.2 USDT (+3.78%)
🌟24-Hour High: 363.9 USDT (Key resistance level)
🌟24-Hour Low: 325.5 USDT (Critical support zone)
Volume (24H):
🌟TAO: 173,367.29
🌟USDT: 59.64M
⚡TAO has demonstrated bullish momentum, nearing its 24-hour high. Price action suggests that resistance at 363.9 USDT will be a crucial determinant of the next move.
⚡Technical Indicators 🧩
1. Bollinger Bands: Widened, signaling heightened volatility and potential breakout scenarios.
2. RSI: Approaching overbought territory, emphasizing caution for entries.
3. MACD: Bullish crossover confirmed, supporting upward trend continuation.
⚡Trading Setup 📝
🎖️Bullish Scenario
Type: Breakout Continuation
👉Entry Point: Above 355.0 USDT (confirmed breakout with strong volume)
👇Take-Profit Targets:
🎯TP1 (1:1): 360.0 USDT
🎯TP2 (1:2): 365.0 USDT
💢Stop Loss: Below 350.0 USDT
🎖️Bearish Scenario
Type: Pullback Trade
👉Entry Point: Below 350.0 USDT (confirmed rejection at resistance)
👇Take-Profit Targets:
🎯TP1 (1:1): 345.0 USDT
🎯TP2 (1:2): 340.0 USDT
💢Stop Loss: Above 353.0 USDT
⚡Risk Management Strategy ⚠️
For Bullish Setup, move Stop Loss to Breakeven after achieving TP1 (360.0 USDT), and secure partial profits (around 50% trade quantity) to safeguard gains while holding for extended targets
For Bearish Setup, lock in profits at TP1 (345.0 USDT) while minimizing risks through Stop Loss adjustment
⚡Key Observations ✍️
1. Volume Confirmation: Essential for validating breakout or pullback moves to avoid false signals.
2. Monitor the 363.9 USDT resistance zone closely; its breach could open doors to new highs.
3. Exercise patience and discipline in entries and exits to navigate volatility effectively.
Disclaimer: #DYOR*
Buy Or Trade With Me On $TAO