1. Price forecast (short-term, medium-term):
• Short term (in the coming days): TAO may continue to consolidate in the $550 - $585 range before testing new resistance levels. The price has tested the $565 level, and the next possible increase is expected with a successful breakout of this level, with a target at $599.4.
• Medium term (over the next few weeks): If there is a strong consolidation above $585, the next upside target is at $634 - $679 Fibonacci levels, with further targets at $701.9 and $834.9.
2. Support and resistance levels:
• Support levels:
o The nearest support level is $525.
o Strong support is at $473.3 (Fibonacci data).
o If a strong decline occurs, support at $409.5 is possible.
• Resistance levels:
o First resistance level is $565.4.
o Second level - $585.
o The next key resistance level is at $599.4.
o A further resistance target is $701.9 (0.27 Fibonacci).
3. Entry, exit and stop loss points for LONG positions:
• 🟢 LONG position:
o Breakout Entry Point: Entry above $565 with a target of $599.4. Stop loss can be placed below $525.
o Entry point on the rebound: If the price rolls back to $525 and bounces off this level, this could provide an opportunity to enter LONG with targets at $565 and $599.4.
o Exit point: Profit taking is possible at $585 and $599.4. Further targets can be set at $701.9.
o Stop Loss: $473.3 to protect capital with an aggressive strategy or below $525 for a more conservative position.
4. Entry, exit and stop loss points for a SHORT position:
• 🛑 SHORT position:
o Entry point on a rollback: Enter short on an unsuccessful breakout of $585 or on a rebound from the $599.4 level downwards.
o Exit point: Take profit at $525 and $473.3.
o Stop Loss: Stop Loss above $599.4 or $634 for aggressive strategy.
5. LONG and SHORT scenarios with probability assessment:
• 🟢 LONG scenario:
o The probability of growth above $565 with further movement to $599.4 is 60-65% if consolidation occurs above this level.
o If $585 and $599.4 are successfully broken, the probability of further growth to $701.9 increases to 75-80%.
• 🛑 SHORT Scenario:
o If the price does not consolidate above $585, the probability of a rollback to $525 is 55-60%.
o If the $473.3 level is broken, a further fall to $409.5 is possible with a probability of about 65-70%.
• Trading Volume: Strong volume at $14,087M confirms the current uptrend and potential for further gains.
⚠️ Overall conclusion: TAO is in a strong uptrend. The long scenario looks more preferable upon breakout of key resistance levels. Short is possible only with clear signs of weakness or fixation at $585 and $599.4.
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