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Jonathan Carbajal dWl1
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https://x.com/minotaurus_io/status/1914768071375356104?s=19
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$TAO Patron, the author of this recently put out chart, looks to be watching TAO/USDT on the 1 hour timeframe closely and is signalling bullish and large upside movement potential. Currently TAO is trading around 259.2 USDT with a recent gain of +4.52%. On the chart we can see there is a strong support zone around the 200 USDT area seeing that there has been prior price action in that zone repeatedly bouncing off it - showing a strong buy signal in that price range. Moving forward from this support, Patron is projecting a potential jump north toward the 1030 USDT level - which is an amazing potential upward movement of over 332%, represented by the vertical arrow and shaded area in the chart. Strong resistance levels are indicated at 510.2 and 1030.1 USDT, which represent the major levels being watched by Patron. Based on the price collection and volume action on the prior price movements, the market seems to be accumulating in the lower ranges - leading to a potential breakout scenario if the bullish intention continues. The yellow horizontal lines represent major levels of interest, where the price may experience some hesitation or consolidation before moving away impulsively. If TAO can break above the 510 level with solid volume, then we could have a bullish run toward the projected target of 1030 USDT. This is echoed in a recent post on X (formerly Twitter), which states "TAO keeps going up", hinting the bullish direction. While the price constantly goes up and the author states "I'm still waiting for my targets", it surely instills some faith in the long term view. I think the chart encapsulates this perfectly, evidencing the recent price behavior to the north, and potentially the direction following next. Traders may be interpreting this as a signal to accumulate.
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