🚀 $TAO Breaks Out! Smart Money & Institutional Buzz Fuel the Rally
TAO is catching serious attention after Grayscale filed for a spot TAO ETF (GTAO). This news sparked a major bullish reversal, with a short squeeze sending whales and traders piling into long positions. Price is now holding $247, consolidating above key support at $242 a level smart money has firmly defended. 🐋💥
Market Highlights:
• Trend Flip: Long/Short ratio jumped from 0.23 → 1.01, showing a clear shift toward bullish dominance
• Support & Resistance: Key support at $242, resistance around $248.5 (mid-Bollinger Band)
• Technical Signals: RSI neutral at 57.6, MACD slightly negative momentum mixed but buyers in control
• Whale Moves: Short positions shrank while long positions nearly tripled, reinforcing the short squeeze
Why This Matters:
• Institutional Catalyst: Grayscale ETF filing hints at big liquidity and adoption potential
• Strong Fundamentals: Top-ranked AI project with active GitHub development
• Opportunities:
Short-term: Hold above $242 to target $256
Mid-term: ETF progress could push toward $285
Long-term: Dip accumulation looks attractive thanks to solid fundamentals
TAO is not just pumping it’s shaping up as a smart money favorite with strong institutional and technical support. Traders and HODLers alike, keep your eyes on $242! ⚡📈
#TAO #CryptoTrading #SmartMoney #BullishMoves #AIBlockchain $TAO
