$TAO A key observation on the 4-hour chart reveals that the 50-day Moving Average (50MA) has crossed below the 200-day Simple Moving Average (SMA), a signal often associated with increasing bearish pressure. This cross typically points to a weakening trend, suggesting that TAO could be heading further downward.
Additionally, the 1-hour chart supports this outlook, as the price candles have been consistently trading below the 200SMA, indicating persistent selling pressure. With these bearish signals aligning across different time frames, TAO appears to be losing momentum, with no immediate signs of recovery.
Given the current conditions, it's likely that TAO could revisit its previous low, potentially targeting the 375 mark as its next support level. Traders should keep a close eye on this critical area, as it could serve as a turning point for the next phase of movement.
#TAO🔥🔥🔥🔥 #ScrollOnBinance #BinanceBlockchainWeek #Write2Earn! #TeslaBTCQ3HoldingsStable
