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$TAO solid upward push, but settling into some consolidation up near the highs, like it's building steam for the next leg. I'm eyeing a long here, but play it smart because things are getting a bit overbought
Price action's been solid: It bounced hard off those lows around 221.03, smashed through resistance at 234, and now it's chilling between 239-242. Smells like accumulation to me.
Volume-wise, those recent 4-hour candles are picking up on the upsides when it hit 236.78 USDT, which screams real buying interest. Pullbacks? Yeah, volume dips there, but it feels more like normal breathing room than anything scary.
On capital flows: Short-term stuff in contracts is kinda choppy—negative from 5 minutes to 4 hours—but then it flips hard positive from 6 hours out to 24 hours, with +12.2M in the 6-hour window alone. Spot side's all green lights too, +3.8M over 24 hours, so there's legit demand stacking up underneath.
Best entry longs
$TAO : Wait for a dip back to 234-236, where it lines up with the MA5 and upper Bollinger. If you're aggressive, hop in now around 239.43, but keep the leash short.
Stop loss at 3% below your entry—say 232.25 if you're in at 239.43.
Targets
$TAO : First stop at Resistance level around 251.30, then push for next resistance at 264.26 if it flies
RSI's flashing overbought, so volatility could spike. If it dumps below 232, scrap the idea—that'd flip the script bearish.
#TAO #TAOUSDT #bittensor