#TAOUSDT | DAILY TIMEFRAME UPDATE
Updated
#TAOUSDT | DAILY TIMEFRAME UPDATE
Fundamental Analysis of #TAO 👇👇
#Bittensor is a decentralized network that enhances machine learning by allowing nodes to contribute their expertise through a consensus mechanism called Proof of Intelligence, which rewards accurate outputs. Utilizing a decentralized mixture of experts model, it fosters collaboration among neural networks to tackle complex problems and democratize access to #AI technologies. The native token, TAO, facilitates transactions within the network and has a capped supply of 21 million, similar to #Bitcoin.
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Technical Analysis of #TAO 👇👇
One of the altcoins I'm currently watching is #TAO.
This analysis is based on the weekly and daily charts, with a long-term to mid-term outlook. If the price of #TAO reaches the $451 - $367 zone, it may present a potential buying opportunity.
As mentioned earlier, this analysis focuses on higher time frames, so it could take time for the price to reach this area—patience is key.
Once #TAO enters the $451 - $367 range, we'll look for confirmation on the 4-hour chart before considering any entries.
Once the price enters the grey area and provides confirmation, I'll share the targets. ✅
If the price drops below $217, the setup will be invalidated.
Fundamental Analysis of #TAO 👇👇
#Bittensor is a decentralized network that enhances machine learning by allowing nodes to contribute their expertise through a consensus mechanism called Proof of Intelligence, which rewards accurate outputs. Utilizing a decentralized mixture of experts model, it fosters collaboration among neural networks to tackle complex problems and democratize access to #AI technologies. The native token, TAO, facilitates transactions within the network and has a capped supply of 21 million, similar to #Bitcoin.
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Technical Analysis of #TAO 👇👇
One of the altcoins I'm currently watching is #TAO.
This analysis is based on the weekly and daily charts, with a long-term to mid-term outlook. If the price of #TAO reaches the $451 - $367 zone, it may present a potential buying opportunity.
As mentioned earlier, this analysis focuses on higher time frames, so it could take time for the price to reach this area—patience is key.
Once #TAO enters the $451 - $367 range, we'll look for confirmation on the 4-hour chart before considering any entries.
Once the price enters the grey area and provides confirmation, I'll share the targets. ✅
If the price drops below $217, the setup will be invalidated.
Note
#TAOUSDT | DAILY TIMEFRAME UPDATE
The price of #TAO dropped to $460 but didn’t quite reach our target zone of $451 - $367.
So, what’s the plan now? 🤔
I’ll be watching closely for the next weekly candle to open, as there’s a high probability #TAO could still dip into the $451 - $367 range. Once it does, we’ll look for potential buy opportunities. ✅
Note
#TAOUSDT | DAILY TIMEFRAME UPDATE
One of the altcoins on my watchlist is #TAO, which we discussed previously, considering both fundamental and technical analysis.
As mentioned earlier, the $451 - $367 range appears to be a strong buying zone for long-term positioning.
Note: This analysis is based on monthly and weekly charts, where the outlook remains positive. However, on the daily chart, #TAO is currently bearish, and a shift in market structure will take time to turn bullish again. So, when the price reaches this range on the daily chart, we’ll need to watch for a strong reaction and a market structure shift as confirmation before entering a position.
Trade active
#TAOUSDT | DAILY TIMEFRAME UPDATE
The price of #TAO reached the $451 - $367 zone and surged by around 26% without leverage. ⚡️
This upward momentum could potentially continue, but for now, hold off. If I spot a new opportunity on #TAO, I’ll be sure to share it in our channel!
Disclaimer
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