#TAO appears to be preparing for a bullish recovery from the lower boundary of a descending channel, following several weeks of continuous selling pressure.
TAO is currently trading near 237.50 $ , and its structure is showing early signs of a possible reversal. Since late September, the price has moved within a descending channel, consistently forming lower highs and lower lows.
Recently, TAO tested the channel’s lower support in the 225 $ to 230 $ zone; after briefly dipping below this level, it began to recover. This could be an early indication that buyers are stepping in at this demand zone.
For this bullish recovery to gain momentum, TAO must hold above the 225 $ to 230 $ range and reclaim the resistance zone between 245 $ and 250 $.
If TAO manages to break above and consolidate over $250, the next upside target is around 255 $ - 265 $, where the upper resistance of the descending channel could come into play.
Conversely, if TAO fails to sustain the recovery and loses the $225 level, the bullish setup will weaken, and the price could revisit the support zone between 220 $ and 215 $.
#TAO #TAOUSDT #Binance
TAO is currently trading near 237.50 $ , and its structure is showing early signs of a possible reversal. Since late September, the price has moved within a descending channel, consistently forming lower highs and lower lows.
Recently, TAO tested the channel’s lower support in the 225 $ to 230 $ zone; after briefly dipping below this level, it began to recover. This could be an early indication that buyers are stepping in at this demand zone.
For this bullish recovery to gain momentum, TAO must hold above the 225 $ to 230 $ range and reclaim the resistance zone between 245 $ and 250 $.
If TAO manages to break above and consolidate over $250, the next upside target is around 255 $ - 265 $, where the upper resistance of the descending channel could come into play.
Conversely, if TAO fails to sustain the recovery and loses the $225 level, the bullish setup will weaken, and the price could revisit the support zone between 220 $ and 215 $.
#TAO #TAOUSDT #Binance
