$TAO /USDT Analysis: Downtrend Persists – Key Reversal Ahead?
$TAO is trading at $414.7, experiencing a significant drop of 11.86% in the past 24 hours. After peaking at $475.9, the price has sharply declined, reaching a low of $410.8. The RSI stands at 33.1, indicating oversold conditions and the potential for a reversal if buying interest picks up.
Key Levels to Watch:
Resistance: $430 – Breaking above this level could lead to recovery toward $450 and $465.
Support: $410 – A breakdown below this level might push the price to $390 or even lower.
Trade Setup:
Long Entry: Above $430, targeting $450 and $465.
Short Entry: Below $410, aiming for $390 and $375.
Market Insights:
The MACD shows a bearish momentum but hints at a possible stabilization. Traders should watch for volume spikes to confirm either a recovery or a continuation of the downtrend.
