TAO/USDT Price Prediction and Detailed Analysis
Analysis:
Current price: $409.5, reflecting a 10.47% increase in 24 hours, supported by strong bullish momentum.
Support level: $383.9, previously a resistance zone, now acting as a key support. A break below this could trigger a bearish correction.
Resistance level: $438.9, identified as a short-term target and a significant hurdle for continued upward movement.
Moving averages: The MA(7) is at $398.6, above the MA(25) at $379.4, indicating a bullish crossover and a strong upward trend.
Trend analysis: The price formed a higher low at $362.6 before breaking above $383.9, confirming the shift from a consolidation phase to a bullish trend. The breakout is supported by increased trading volume.
Prediction:
Bullish case: If the price stays above $383.9, the next target is $438.9. A breakout above this resistance could push the price to $466 or even retest the previous high at $487.6.
Bearish case: Failure to sustain $383.9 as support could lead to a decline toward $362.6. If this level is breached, further downside to $350 is possible.
The price is showing strong bullish momentum, but the $438.9 resistance is a key level to watch. A breakout above this could signal further upside, while a failure to hold $383.9 may lead to a pullback.
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