$TAO Bulls Liquidated!
A $1.42K long position on $TAO was liquidated at $494.52, reflecting a sudden bearish shift. The market couldn’t hold its bullish momentum, leading to a drop and triggering sell-offs from over-leveraged positions.
Key Insights:
Bearish Turn: This liquidation suggests increasing selling pressure, with the market now in a potentially bearish phase.
Support in Focus: Watch if $TAO can find support at lower levels, or if the downtrend continues.
TAO Technical Breakdown:
Resistance Level: $500
Support Zone: $485
Momentum: Bearish, with risks of further declines
Will Tao recover, or is the market set for deeper losses? Keep an eye on volume and momentum to gauge the next move!