🚨 $TAO Oscillating with Bearish
1h candles show a clear downtrend from the 335.0 high. Recent candles show lower highs and lower lows, with significant selling volume on down candles. The last few candles show indecision near the 315-318 zone but failed to break above key MAs. The price is currently testing below the recent consolidation, suggesting bearish continuation.
Entry short $TAO : pullback towards resistance zone 317.0-319.5 (confluence of MA5, MA10, and previous support-turned-resistance). • Alternatively, break and close below support 310.6 could be used for a confirmation short entry.
Stop Loss: Set at 322.5 (above resistance and the MA20 cluster)
Target Price $TAO : 305.0 (24h Low). Secondary target at 300.0 (psychological level below support)
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