Looking at the charts, TAO has experienced a sustained downtrend over recent months, marked by a downward-sloping trendline. A critical moment occurred when the price dipped sharply below a key support zone, only to recover quickly. This sharp move below the support level may suggest a liquidity grab, often used by market participants to trigger stop-loss orders before a reversal.
Bittensor Key Support and Resistance Levels Identified
The analysis identifies a strong support area marked by a gray rectangular zone. While the price briefly dropped below this zone, the swift recovery indicates strong buyer interest at lower levels.
Above this, two horizontal red lines highlight critical resistance levels. The first resistance lies below $750, while the uppermost line sits at the $750 level itself. Overcoming these levels will be necessary for TAO to achieve the projected target.
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Tweet Suggests Confidence in Long-Term Growth
TraderPA’s tweet asserts a bullish outlook, stating, “$TAO will hit $750 again in 2025. Bookmark this post.” This statement aligns with the chart’s technical signals and suggests strong conviction in $TAO’s long-term potential. While the chart focuses on technical indicators, the tweet may also hint at broader confidence in TAO’s market fundamentals.
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