When to Buy (Buy Zone)?
The price is currently at 178.4. For better entry, check the levels given below:
Support Level: Today's low for TAO is 173.2. If the price comes back here and holds, it could be a good entry.
Moving Averages: The price is currently trading above MA(25) at 176.7. If the price drops and finds support between 176.7 - 177.1, a purchase can be made from there.
Indicator: RSI is currently at 55.3, which is "Neutral" (neither too cheap nor too expensive).
When Should You Sell (Sell Zone)?
Keep an eye on these levels for profit booking:
Short-term Target: The first major resistance is at 180.5 where the price has come down a bit.
Major Target: If momentum remains, then 183.2 (today's high) should be your next selling point.
Oversold Caution: If the RSI goes above 70, it is better to sell immediately because the market could drop from there.
Important Warning: Long-term Trend
Looking at TAO's previous record, this is quite concerning:
1 Year Performance: -56.97%
180 Days: -50.84%
This coin has been declining for a long time. However, in the last 7 days, it has recovered by 18.77%, but this could just be a short-term "bounce" as well.
My Advice:
Only engage in "Scalping", meaning buying quickly and selling quickly. Avoid locking up money for the long term until it breaks its major downtrend.
breaks.
