๐ TAO Breaks Below Channel Pattern โ Whatโs Next?
has fallen below its channel pattern, signaling a shift in momentum as it moves under a key resistance zone. Currently, price action remains uncertain, and traders should exercise patience while monitoring crucial levels.
๐ Key Support to Watch
โ $317 as a Support Zone โ This level is expected to act as a strong support area, and price reactions around it will determine the next move.
โ Resistance Holding Firm โ Until a clear breakout occurs, TAO may continue to face challenges in regaining bullish momentum.
๐ฏ Trading Approach
๐น Wait for Confirmation: Since price action is still developing, a clear move above resistance or a bounce from support is needed for strong confirmation.
๐น Monitor Market Sentiment: Keeping an eye on volume trends and broader market movements will help in identifying potential breakout or breakdown scenarios.
๐ก Final Thoughts
For now, TAO remains in a consolidation phase, with $317 serving as a crucial support level. A confirmed bounce could bring a reversal, while failure to hold may lead to further downside. Traders should stay patient and watch for confirmation signals before entering positions.