🔥 Family, pay attention to $TAO /USDT because the movement is interesting and, as always, we need to stay one step ahead of the manipulation!
After a good bullish rally, TAO/USDT is consolidating around $410, a key level! We see that the 50 moving average (MA(50)) at $404.0 and the 99 moving average (MA(99)) at $393.9 are acting as dynamic support. This is crucial as it indicates that there is buying strength keeping the price above these important zones.
The day's low at $366.1 showed us that there was a strong pullback, but the recovery was quick, making it clear that the bulls are not letting the price drop easily. However, we shouldn't get complacent; the market is skilled at deception.
The supply zone between $410 and $420 is where the sharks are positioning their orders. If we decisively break through $420, we could see a continuation of the bullish movement, looking for higher levels. But be careful! A false breakout could be a trap for liquidity.
What does volume tell us? Although it had a spike during the recovery, it now seems to be decreasing. This is a good reminder that patience is key and that "big hands" often move the price with little volume to shake out the smaller ones.
For attentive traders: If we see a HODL with a head above $400 with good buying volume confirming it, it could be a good entry zone. A significant pullback below $390 could nullify this bullish scenario in the short term and send us looking for support lower down.
Manipulation is real, so don’t be led solely by FOMO. Always use your risk management. Let's keep an eye on this pair!
