Hello everyone, I’m Cryptorphic. For the past seven years, I’ve been sharing insightful charts and analysis.
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Now, let’s dive into this chart analysis:
Since early April 2024, TAO has dropped by 68% and may fall further by 20%-25%, reaching lower support levels between $194 and $217.
A rebound can be expected after hitting these support levels. This rebound will likely push the price back to its ATH target of $777, gaining almost 260%.
Here are the key observations:
~ Strong support/Entry: $194 to $217. ~ Primary Resistance: $287 to $306. ~ Potential rebound/Target: $777 (All-time high). ~ RSI: Slight increase in momentum from the oversold area, indicating a bullish scenario. ~ Invalidation point: A breakdown and close below the support level.
DYOR. NFA.
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