TAO Price Shows Bullish Strength Near Resistance

As of the latest 1-hour price movements, $TAO is showing resilience, with its price closing at $605.4, indicating a steady climb from previous levels. The crypto is exhibiting a short-term bullish trend as it inches closer to testing key resistance zones. Technical indicators suggest momentum is building for TAO, though traders should remain cautious and aware of support and resistance levels.

#TAO has recently seen consecutive hourly closes that point toward a potential breakout. After rising from $579.5 to the current level of $605.4, the price is approaching significant resistance areas. While the immediate resistance is undefined, previous price rejections around the $610–$615 zone could act as the next level to watch. On the downside, key support levels include $574.7, which has historically acted as a floor for price movements, $551.9, a significant support area for potential long entries in case of retracement, and $546.2, a strong psychological and technical support that could be a stop-loss point for long traders.

The 9-hour and 20-hour EMAs are both sloping upward, indicating bullish momentum in the short term. The most recent 9-hour EMA is at $594.79, well below the current price of $605.4, signaling that the short-term trend remains strong. What’s more, the 9-hour EMA has consistently stayed above the 20-hour EMA during the past few hours, reinforcing the possibility of further upward price action for TAO. Traders may interpret this as a bullish crossover, favoring long positions.

MACD values are also pointing toward a bullish trend, with the MACD line crossing above the signal line in recent hours. After a brief period of bearish divergence, where the histogram remained negative, the MACD histogram has turned positive, suggesting increasing upward momentum. As the MACD line continues to rise above the signal line, traders can expect further price appreciation for TAO. #Bittensor #altcoins