TAO : Potential Downside Wedge Breakdown Looming
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A potential downside wedge pattern is forming on TAO, with a likely confirmation looming as the price approaches the white line traced for a breakdown.
The technical analysis suggests that if this pattern is confirmed, the price could fall towards the bottom of the wedge. This indicates a possible bearish move in the short term, signaling caution for traders.
Conclusion :
TAOās wedge pattern presents a potential breakdown scenario. A confirmed move could see the price reaching the wedge's lower boundary, highlighting a downward trend.
Advice :
Traders should monitor the white line closely. If a breakdown occurs, consider adjusting positions or setting stop-losses to mitigate risks, while waiting for further confirmations.
