Analysis $TAO

Based on the attached image, here is the technical analysis of the TAO/USDT indicator using the visual analysis tools.

1. General trend:

The current candle shows that there is an uptrend after a period of decline. The RSI indicator at 32 indicates that the currency was in an oversold zone and then started to rebound.

2. Moving averages:

The EMA 21 and EMA 99 moving averages indicate that the price was in a downtrend, but there is an attempt to break the shorter moving average (EMA 21) of the longer one (EMA 99) and this is a possible indication of the beginning of a change in the trend to an uptrend.

3. Support and resistance points:

Support: The closest support point can be seen around the 310.5 level where the price bounced from this area.

Resistance: The closest resistance that the price may face is at the 336.8 level, as it has previously bounced from this level.

4. Oscillation indicators:

Stochastic indicator at 17.6 indicates that the market is in an oversold condition which may lead to a rise soon.

MACD is showing a close positive crossover, which means a buy signal may be on the way if the current trend continues.

5. Wm%R and OBV Indicator:

The Wm%R indicator at 75.5 indicates that the price is in an oversold condition.

OBV indicates that the trading volume is increasing positively, which increases the possibility of a price increase.

Conclusion:

The current trend indicates an attempt at a bullish reversal after a period of decline, provided that the break of nearby resistance levels is confirmed.

Support levels at 310.5 and resistance at 336.8 are key to monitor the upcoming trend.

If you are waiting for a buying opportunity, it could be after confirmation of a breakout of the moving averages or after breaking the resistance level of 336.8.#