$TAO Technical Analysis Take Profit (TP) Stop Loss (SL) 👇👇
Will TAO Bounce Back to $279? Price Action Says Watch $259 📈
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The TAO market is displaying moderate consolidation after recent upward momentum, with price action coiling within a narrowing range between $247-$259. Market structure remains fundamentally bullish despite the short-term pullback, supported by healthy volume and strong ADX readings at 100.
💥Here are the key technical points to watch: 👇
—• Price is testing the pivot level at $254, with immediate resistance at $259
—• MACD shows potential bullish convergence with signal line (-10.29 vs -16.83)
—• Bollinger Band width at 40.08% suggests potential volatility expansion ahead
—• Strong ADX reading indicates trend strength, though DMI spread suggests caution.
—Trading Setup:🚀
—Long opportunity presents above $259 with initial targets at $267 and $279. Conservative traders should wait for a clear break and retest of $259. Short-term support at $247 remains crucial - loss of this level could trigger a deeper correction to $239.
—Risk Management:💥
—• Long entries: $259-262 zone
—• Stop loss: Below $247
—• Take profit 1: $267
—• Take profit 2: $279
—The relatively low volatility (2/10) and strong liquidity (8/10) provide favorable conditions for position building, though the technical score (3/10) suggests waiting for clearer confirmation before aggressive entries.
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