TAO/USDT Technical Analysis in a Daily Timeframe.

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Hello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.

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Now, let’s dive into this chart analysis:

Since early April 2024, TAO has dropped by 68% and may fall further by 20%-25%, reaching lower support levels between $194 and $217.

A rebound can be expected after hitting these support levels. This rebound will likely push the price back to its ATH target of $777, gaining almost 260%.

Here are the key observations:

~ Strong support/Entry: $194 to $217.
~ Primary Resistance: $287 to $306.
~ Potential rebound/Target: $777 (All-time high).
~ RSI: Slight increase in momentum from the oversold area, indicating a bullish scenario.
~ Invalidation point: A breakdown and close below the support level.

DYOR. NFA.

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