$TAO /USDT Daily Technical Analysis

Key Insights:

- 68% Drop: TAO has plummeted by 68% since early April 2024, with a potential further decline of 20-25% to reach support levels between $194 and $217.

- Rebound Expected: A bounce back is likely after hitting these support levels, pushing the price towards its all-time high (ATH) target of $777, representing a 260% gain.

Key Levels:

- Strong Support/Entry: $194 to $217

- Primary Resistance: $287 to $306

- Potential Rebound/Target: $777 (All-time high)

RSI Analysis:

- Bullish Momentum: The RSI indicates a slight increase in momentum from the oversold area, suggesting a bullish scenario.

Invalidation Point:

- Breakdown Below Support: A close below the support level would invalidate this analysis.

Conclusion:

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