$TAO - Price Update
Just like the rest of #alts , bulls got stopped right at key bearish resistance (previous high timeframe support), with a strong rejection. The move from $312 to $360 wasn’t bad at all. ✅💰
But as of now, the medium-term bullish plan is invalidated. ❌
🟥Quick rundown:
H4: Bearish
Daily: Bearish breakout & retest
Weekly: Bearish breakout and retest of SSA + Kijun area (trend has flipped)
All signs point to another potential dump ahead! 📉
Key lower supports to watch:
$288 - $278 - $264 - $240 - [$220–$225]
The $240-$220 zone stands out as the strongest support, also matching the previous 185-day wedge structure.
Long-term:
I’m bullish on #TAO fundamentals, but short-term price action looks tricky!
As long as bulls can’t reclaim $380+ on the weekly and $400+ daily close, it’s a risky buy.
Trade safe!
