TAO/USDT Technical Analysis in a Daily Timeframe.

2. Juli

Hello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

Since early April 2024, TAO has dropped by 68% and may fall further by 20%-25%, reaching lower support levels between $194 and $217.

A rebound can be expected after hitting these support levels. This rebound will likely push the price back to its ATH target of $777, gaining almost 260%.

Here are the key observations:

~ Strong support/Entry: $194 to $217.
~ Primary Resistance: $287 to $306.
~ Potential rebound/Target: $777 (All-time high).
~ RSI: Slight increase in momentum from the oversold area, indicating a bullish scenario.
~ Invalidation point: A breakdown and close below the support level.

DYOR. NFA.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE