📉🟢 TAO/USDT Analysis buy analysis 📉
The current price of TAO is at 250.7, showing a decline of -6.07%. The price has been fluctuating between the 24-hour high of 268.1 and the low of 238.2, indicating some volatility in the market.
Key Levels:
- Support: The 24-hour low at 238.2 and the Bollinger Band lower line (DN) at 239.2 are strong support levels.
- Resistance: The upper Bollinger Band (UP) at 294.9 is a key resistance level to watch.
Indicators:
- RSI(4): At 34.5, the RSI is approaching oversold conditions, suggesting potential for a reversal.
- MACD: The MACD is slightly negative at -0.8, indicating weak bearish momentum.
Potential Scenario:
Given the current price action and indicators, TAO might find support near the 239.2 level. If the price holds above this level, there could be a potential upward movement towards the 294.9 resistance.
Strategy Consideration:
- Entry: Consider entering near the current price of 250.7 if the price shows signs of stabilizing or reversing.
- Stop Loss: Place a stop loss below 238.2 to protect against further downside.
- Take Profit:
- 🎯 Target 1: 267.1 (Bollinger Mid-Band)
- 🎯 Target 2: 268.1 (24h High)
- 🎯 Target 3: 294.9 (Bollinger Upper Band)
Risk: Medium
Time Frame: 1h - 4h
DYOR and NFA.
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