$TAO is showing a distinct state of hesitation as the price trades within the Ichimoku cloud – a sign of a market lacking a clear trend. Below are the highlights from the 4-hour chart:
1. Ichimoku Cloud & EMA:
• The current price is within the cloud – signaling a neutral trend.
• The EMA lines 9, 34, and 89 are converging and have not diverged clearly, reflecting a short-term sideways state.
• EMA 89 is below the cloud, forming a strong support area around 345.
2. Bollinger Bands:
• Bollinger Bands are starting to narrow – a sign of imminent strong volatility.
• The price has been rejected multiple times at the upper band, indicating that selling pressure is slightly dominant.
3. Momentum Indicator:
• Stochastic RSI is turning down from the overbought zone => slight correction is possible.
• MACD has crossed below the signal line, and the histogram is starting to turn negative => confirming the short-term bearish signal.
Conclusion:
TAOUSDT is in an accumulation phase, with a narrow range and signs of short-term correction. The 345–350 range is a key support level. If this range breaks, the price may return to test 320. Conversely, if it breaks the 370 level with strong volume, the medium-term uptrend will be confirmed.
Proposed strategy:
• Monitor price reactions in the range of 345–350 to determine the upcoming trend.
• Short-term traders should wait for a clear breakout to enter a safer position.