TAO/USDT: Testing Critical Support! 📉
Bittensor $TAO is currently navigating a cooling phase on the 1h chart, trading at $317.3 with a slight daily decline. After a period of downward pressure from the $377 local peak, the price is now consolidating.
Technically, TAO is trading just below its EMA 21 ($318.9) and EMA 25 ($319.2), which are acting as immediate overhead resistance. The EMA 99 ($321.8) looms slightly higher, marking the boundary for a potential bullish trend reversal. With the MACD showing flat momentum, the market is in a "wait-and-see" mode. A clean break above $322 could trigger a relief rally, while a failure to hold $310 might lead to further downside.
Trade Plan:
* Entry Zone: $312 - $318 (Watch for a bounce)
* TP Targets: $335 / $350
* SL: $305
Patience is key here—let the trend confirm! 🚀
