Is $TAO at $241 setting up for a flush, or is this the level where sellers finally run out?
Still weak.
Down 6.77% today, with $23.99M volume, and the 4h move is already -6.4%. RSI at 39 says momentum is washed out, but price sitting below both the 20D and 50D moving averages is not bullish yet.
Funding is -0.009%, so shorts are paying. That can fuel a squeeze, but it needs to actually reclaim levels first. $XRP has shown how fast that can happen when positioning gets crowded.
At $240, I’d stay patient and watch the reaction, not chase a bounce. $TAO is still 24% below its 30D high, and @taboracoin needs to prove this is accumulation, not just another lower high. 📉👀
#Bittensor #Crypto #DePIN
Still weak.
Down 6.77% today, with $23.99M volume, and the 4h move is already -6.4%. RSI at 39 says momentum is washed out, but price sitting below both the 20D and 50D moving averages is not bullish yet.
Funding is -0.009%, so shorts are paying. That can fuel a squeeze, but it needs to actually reclaim levels first. $XRP has shown how fast that can happen when positioning gets crowded.
At $240, I’d stay patient and watch the reaction, not chase a bounce. $TAO is still 24% below its 30D high, and @taboracoin needs to prove this is accumulation, not just another lower high. 📉👀
#Bittensor #Crypto #DePIN