đĄ TAO/USDT - 30min Chart, on: 29/04/2025đŻ
đ After a corrective movement, TAO found support in the region of $368.10 and is currently trading near $372.10, trying to regain momentum.
The moving averages show the short-term scenario:
MA(7): $371.4 â immediate resistance
MA(25): $376.5 â next barrier to be broken
MA(99): $370.6 â acting as dynamic support
đ The price is trying to hold above the MA(99), which is a good sign of buyer defense. However, there is still significant resistance at the shorter moving averages, especially the MA(25), which has been pressuring the upward movement.
đ Market Structure:
$TAO has not yet confirmed a trend reversal. The attempt at a double bottom in the region of $368.10 may indicate buyer strength, but it needs confirmation with a breakout and close above $376.5.
đš Key Levels:
Support: $370.0
Immediate Resistance: $376.5
Wider Resistance: $381.5
đ Technical Summary:
The asset continues in consolidation after a decline. The moment requires discipline and patience â waiting for breakouts with volume is essential to avoid false signals.
âThose who try to guess the bottom, dig even deeper.â
âł Consolidation is not weakness; it is preparation.