$TAO Urgent Update
let's see chart together
and let's make signal on tao
Here You Go .
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(helpinghands_signals)
way to get āļø
Here is a technical analysis and signal suggestion for TAO/USDT:
Current Price Context
Price: 558.3 USDT
24h High: 597 USDT
24h Low: 541 USDT
Change: -5.55%
Moving Averages (MA)
MA(7): 563.7
MA(25): 571.0
MA(99): 598.8
The price is currently below all three moving averages (7, 25, and 99), indicating bearish momentum in the short and long term.
RSI (20)
RSI: 43.6
The RSI is below 50, which reflects weak momentum but not yet oversold territory. This suggests some downside pressure, but the coin might consolidate or bounce soon.
Trend Observations
1. Downtrend: The price failed to maintain higher highs after peaking at 682.2. Itās now forming lower highs and lower lows.
2. Support/Resistance Levels:
Support: Around 513.9 (recent low)
Resistance: Near 603.3 (previous pivot)
Signal Suggestion
Given the downward trend and RSI near neutral, the following strategy may work:
1. Short-term Signal:
Entry: If price breaks below 541, short positions can be considered with a target of 513.9.
Stop-loss: Set near 571 to limit risk in case of a reversal.
2. Long DCA Strategy:
If the price drops to 513.9 or below, consider entering long positions using DCA since it aligns with your trading style. This is a good level to accumulate if the trend reverses.
3. Reversal Signal:
Watch for the price to reclaim the MA(25) and break above 571. This would signal a potential trend reversal to the upside, targeting 603.3 and beyond.
Conclusion
Short-term bias: Bearish until a break above 571.
Watch for: Key breakout points at 541 (for downside) and 571 (for upside).
