#TAOUSDT is showing early signs of a potential trend reversal following a prolonged downtrend. Price has recently rebounded from a key major support zone between $164 and $192, where a bullish divergence with the RSI has emerged—indicating a possible shift in momentum.
A well-defined descending trendline has been acting as dynamic resistance since the November 2024 high. Currently, price is approaching a critical resistance level around $284.7. A confirmed breakout above this area would be a strong signal that the market structure is beginning to shift in favor of the bulls.
If price breaks and holds above this resistance, the next upside targets are:
$468
$480
$495.9, in line with previous supply zones and structural highs.
Momentum is also improving, with RSI crossing back above the 50 level, supporting the bullish case. However, a clean breakout with sustained volume will be key to validating this setup.
Levels to Watch:
Support: $192.8 and $164.1
Resistance: $284.7, followed by $468–$495.9
Until we see a confirmed breakout, caution is warranted. Failure to clear the trendline may lead to another retest of support.
Summary:
#TAO is setting up for a potential bullish reversal, but confirmation above $284.7 is critical. A move beyond that level could open the door for a significant upside continuation. As always, manage risk accordingly and wait for confirmation.
A well-defined descending trendline has been acting as dynamic resistance since the November 2024 high. Currently, price is approaching a critical resistance level around $284.7. A confirmed breakout above this area would be a strong signal that the market structure is beginning to shift in favor of the bulls.
If price breaks and holds above this resistance, the next upside targets are:
$468
$480
$495.9, in line with previous supply zones and structural highs.
Momentum is also improving, with RSI crossing back above the 50 level, supporting the bullish case. However, a clean breakout with sustained volume will be key to validating this setup.
Levels to Watch:
Support: $192.8 and $164.1
Resistance: $284.7, followed by $468–$495.9
Until we see a confirmed breakout, caution is warranted. Failure to clear the trendline may lead to another retest of support.
Summary:
#TAO is setting up for a potential bullish reversal, but confirmation above $284.7 is critical. A move beyond that level could open the door for a significant upside continuation. As always, manage risk accordingly and wait for confirmation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.