For today's market of TAO (Bittensor), we can make a brief analysis from the following aspects:

Technical analysis

1-hour level: Purple signal appears, which usually means that the market has a certain technical pattern or indicator change during this period, but the specific meaning needs to be interpreted in combination with specific analysis tools or indicators. Purple signal may indicate increased volatility or uncertainty in the market in the short term.

2-hour level: Short confirmation, indicating that in the 2-hour time frame, the short force has the upper hand and the price has a downward trend.

4-hour level: Long confirmation, contrary to the 2-hour level, the long force is confirmed at the 4-hour level, showing the potential for price increase. This difference in signals at different time levels may indicate that there is short-term volatility and uncertainty in the market.

Key price points

Focus on price: The price area around 281.86 is currently the price area that needs to be focused on, and it may become a turning point in the short-term trend of the market.

Short-term rebound target: If the price can break through the current resistance, the short-term rebound target can be seen near 297.63 and 313.20. However, it should be noted that if the price fails to effectively break through these target levels, the downward trend may continue.

Lower support: The lower support levels are located near 278.51, 275.05 and 255.13. These support levels are the starting point for the price to rebound, and are also areas where investors can consider layout during the decline.

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