$TAO Analysis
🔍 TAO/USDT Analysis 🔍
The TAO/USDT pair is currently trading at $553.4, down 6.93% in the past 24 hours, signaling a bearish trend. After touching a low of $548.1, it’s facing resistance at $555.4. With the 24h high at $595.7, this zone has turned into a strong resistance level, while $548.1 acts as immediate support.
📊 The MACD shows bearish momentum is weakening, but no bullish reversal has been confirmed yet. Watch for a MACD crossover for confirmation. For short-term traders, an ideal entry would be above $555, aiming for a retest of the $570 range, with a stop-loss below $548 to manage risk.
⏳ Patience is key as the pair hovers at critical levels. Keep an eye on volume spikes for momentum confirmation!
