---$TAO
TAO/USDT: Key Breakout Alert! đ
Weâre witnessing an exciting breakout in the TAO/USDT pair, up by 13.57% to $462.71, breaking through a critical resistance zone. Letâs break down the price action:
1. Resistance Zone Breakout: The price has successfully broken out of the highlighted resistance zone, which was holding TAO back for some time. This marks a significant shift in momentum as the bulls have taken control.
2. Strong Upward Momentum: The current price action shows a solid bullish trend, with the price climbing from the recent low of $163.38 to $462.71âa massive gain of around 183%. The breakout is supported by strong volume, adding more conviction to the move.
3. Next Resistance Levels: The next key resistance lies around the $718.48 mark, which could act as the next price target for bulls. This aligns with historical price levels, where we might see some consolidation.
4. Support Levels: On the downside, we have solid support at $393.60. A pullback to this level might provide a good entry opportunity for those looking to enter the market.
Potential Strategy:
If youâre already holding, this could be a good time to trail your stop loss to secure profits.
For new traders, consider waiting for a pullback or consolidation around support levels before entering.
Stay tuned for more updates as this breakout develops! đ
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