💥 TAO/USDT CRUCIAL: Why Levels $300 and $269.7 Determine Bittensor's Fate in the Medium Term!
Hello
#BinanceSquare !
In-depth analysis of TAO/USDT shows that this asset is at a crossroads, battling between a long-term bearish trend and very strong AI fundamentals. Let’s focus on two highly decisive price levels on the 1-Day (1D) timeframe.
🕒 Brief Technical Analysis (1 Hour):
TAO is currently trading around $289.4. The 1H chart shows tight consolidation with indicators (RSI & MACD) in neutral territory. Today’s minor rebound is an early signal, but there has yet to be solid breakout confirmation.
🎯 Crucial Medium-Term Levels (1 Day):
Our main focus is on the daily candle closing (1D).
1. Key Resistance (BULLISH Signal)
Level: Around $300.0
Implication: A daily closing price above $300 is a strong signal of short-term momentum reversal. If this occurs, the next target is the $350-$380 zone.
2. Key Support (BEARISH Signal)
Level: Around $269.7
Implication: If the TAO price closes daily below $269.7, this confirms ongoing selling pressure. The risk of a deeper drop to further support will increase significantly.
💡 Long-Term Fundamentals: Why TAO is Worth Monitoring?
Despite the price correction, the fundamentals of TAO (Bittensor) are very solid:
Leading AI Narrative: TAO is a major blue-chip in decentralized AI.
Institutional Catalysts: The potential filing of Grayscale Bittensor Trust could trigger massive institutional breakout, changing the 1D trend.
⚠️ Conclusion & Strategy:
TAO is in the "Wait for Confirmation" zone.
Bullish Action: Wait for confirmation of 1D close above $300.
Bearish Action: Be ready if support at $269.7 is breached.
Disclaimer: This is not financial advice. DYOR!
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