After pulling back and finding support at the $310 mark, the spot price of $TAO has risen again to around $317. Over the past 24 hours, the gain has remained above 14%, continuing to hold the #1 spot on the spot market anomalies leaderboard.
Compared with many other assets, whose momentum often quickly fades after running into resistance, the price action here shows a clearer buy-side follow-through after the pullback: in the past 24 hours, spot matched trades have broken through 550,000 transactions, and the traded value has continued to stay above $106 million. After the price stabilized around $312, trading activity re-concentrated, demonstrating resilience under a large-scale capital contest.
However, as the price once again presses toward the $320 resistance zone, the dense area of prior intensive trading above and the digestion of short-term profit-taking positions still require time. The key point to watch after the rebound is whether the current, over-100-million-dollar level of trading activity can form a solid base above $315, and whether it can help prevent another standoff caused by the ongoing tussle around the key level.
#TAO #Crypto
Compared with many other assets, whose momentum often quickly fades after running into resistance, the price action here shows a clearer buy-side follow-through after the pullback: in the past 24 hours, spot matched trades have broken through 550,000 transactions, and the traded value has continued to stay above $106 million. After the price stabilized around $312, trading activity re-concentrated, demonstrating resilience under a large-scale capital contest.
However, as the price once again presses toward the $320 resistance zone, the dense area of prior intensive trading above and the digestion of short-term profit-taking positions still require time. The key point to watch after the rebound is whether the current, over-100-million-dollar level of trading activity can form a solid base above $315, and whether it can help prevent another standoff caused by the ongoing tussle around the key level.
#TAO #Crypto