TAO has fallen into a sluggish quagmire! The weak pattern is hard to break, with short-term bears dominating the market
From a technical perspective, the short-term moving averages of TAO are all pointing downwards, indicating that market sentiment continues to be under pressure. Although the price has shown a slight rebound after breaking below the lower Bollinger Band, it has never managed to stay above the middle band, and the overall trend remains weak and powerless. The Bollinger Bands are gradually narrowing, and volatility has significantly decreased, indicating that the market has entered a consolidation period; at the same time, trading volume has drastically shrunk, and market participation enthusiasm has dropped to freezing point, with buying power almost completely suppressed.
In the current trend, a bullish counterattack seems hopeless, and bears still hold the dominant position. The short-term direction leans bearish, and it is recommended to closely monitor the middle Bollinger Band and changes in trading volume, being wary of sudden fluctuations that may trigger false breakouts.
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