$TAO Long Liquidation Alert 🚨
A massive $18.274K long liquidation just took place at $568.51! The market is heating up, and this could signal big moves ahead. Let’s break it down and prepare for the next opportunity.
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What’s Happening?
This large liquidation shows bulls are under pressure. It might lead to two potential scenarios:
1. A recovery rally as selling pressure eases.
2. Further downside if bears remain in control.
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Buy Zone 🛒
The ideal buy zone for $TAO is between $550.00 - $565.00. This is a key support area where buyers could step in to defend the price.
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Targets 🎯
Target 1: $580.00 (Immediate resistance)
Target 2: $600.00 (Mid-term target with psychological significance)
Target 3: $630.00 (Major breakout zone with strong resistance)
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Stop Loss 🚫
Set your stop loss at $540.00. A break below this level could indicate a deeper correction, possibly toward $520.00.
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What’s Next?
If $TAO bounces from the buy zone: Expect a rally toward $580.00 or higher, with momentum potentially driving it to $600.00.
If it breaks below $540.00: Brace for further downside, with the next strong support zone around $500.00 - $520.00.
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Key Factors to Watch:
1. Volume at the buy zone—rising buying volume could indicate a reversal.
2. Broader market sentiment, especially from leading assets like BTC and ETH.
3. News or developments about the TAO ecosystem that could drive volatility.
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⚠️ Disclaimer: This is for informational purposes only. Always do your own research and trade carefully. Risk management is key in volatile markets like crypto!
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