BlockchainBaller
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Bearish
BUY or SELL ❓$TAO /USDT: Testing Support After a Steep Decline❗$TAO has taken a sharp dip, trading at $306.1 with a significant 21.35% drop in the last 24 hours. After hitting a high of $392.5, it has retraced towards the $236.1 low, reflecting a potential retest of critical support levels. The RSI at 20.9 signals oversold conditions, hinting at a possible rebound.
Key Levels to Watch:
Resistance: $330.5 – A breakout here could signal a recovery toward $350.
Support: $287.1 – Holding above this is essential to prevent further downward movement to $236.
Momentum Insight:
The MACD is bearish, with the Parabolic SAR confirming the downward trend. However, with the RSI nearing oversold territory, a bounce-back rally could be in play if buyers re-enter the market.
Bottom Line: TAO is under pressure but nearing critical support. Traders should wait for confirmation of a trend reversal before entering positions, while cautiously monitoring the $287.1 support level.
#MarketPullback
Key Levels to Watch:
Resistance: $330.5 – A breakout here could signal a recovery toward $350.
Support: $287.1 – Holding above this is essential to prevent further downward movement to $236.
Momentum Insight:
The MACD is bearish, with the Parabolic SAR confirming the downward trend. However, with the RSI nearing oversold territory, a bounce-back rally could be in play if buyers re-enter the market.
Bottom Line: TAO is under pressure but nearing critical support. Traders should wait for confirmation of a trend reversal before entering positions, while cautiously monitoring the $287.1 support level.
#MarketPullback
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