💡 TAO/USDT - 30min Chart, on: 29/04/2025🎯
📉 After a corrective movement, TAO found support in the region of $368.10 and is currently trading near $372.10, trying to regain momentum.
The moving averages show the short-term scenario:
MA(7): $371.4 – immediate resistance
MA(25): $376.5 – next barrier to be broken
MA(99): $370.6 – acting as dynamic support
🔍 The price is trying to hold above the MA(99), which is a good sign of buyer defense. However, there is still significant resistance at the shorter moving averages, especially the MA(25), which has been pressuring the upward movement.
📊 Market Structure:
$TAO has not yet confirmed a trend reversal. The attempt at a double bottom in the region of $368.10 may indicate buyer strength, but it needs confirmation with a breakout and close above $376.5.
🚨 Key Levels:
Support: $370.0
Immediate Resistance: $376.5
Wider Resistance: $381.5
📊 Technical Summary:
The asset continues in consolidation after a decline. The moment requires discipline and patience – waiting for breakouts with volume is essential to avoid false signals.
“Those who try to guess the bottom, dig even deeper.”
⏳ Consolidation is not weakness; it is preparation.