The recent price action shows TAO in a period of consolidation after its recent upward trend, with bears temporarily taking control as the price retraces from local highs. Despite the daily drop of -6.96%, the overall market structure remains relatively strong with healthy volume profiles and sustained institutional interest.š° Market Analysis:The price is currently testing the level of $347 with moderate selling pressure, although the elevated RSI at 65.65 suggests that the asset is not yet oversold. The positive MACD crossover (29.45 vs 28.21) indicates underlying bullish momentum despite today's correction. The ADX at 57.6 confirms a strong trend direction.š Technical Outlook:ā¢ The current price action is contained within a well-defined range between $338-366ā¢ The width of the Bollinger Bands at 11.61% suggests decreasing volatilityā¢ The DMI spread (6.5/24.2) indicates that bears have temporary controlā¢ The volume ratio at 0.54x shows trading activity below averageā” Key Observations:The pivot level of $357 is crucial for the short-term direction. A breakout above could trigger a move towards $372, while failure to hold $338 could lead prices to test the support zone of $308. The market capitalization remains robust at $3.03 billion with healthy liquidity metrics.šÆ Trading Setup:Long Setup:ā¢ Entry: zone $339-342ā¢ Targets: $357 ā $366 ā $384ā¢ Stop Loss: Below $329Short Setup:ā¢ Entry: zone $372-375ā¢ Targets: $357 ā $338 ā $329ā¢ Stop Loss: Above $384ā ļø Risk Management:Keep position sizes modest given the moderate technical risk rating (4/10). The relatively low volatility (2/10) suggests that tight stops may be imposed. Monitor volume to confirm breakouts$TAO
