The RSI reading at down the 50 midline level 37 shows increased selling pressure.
However, the TAO has now formed a sideway pattern, indicating a physical zone for neutrality. Bulls now demand for a potential breakout from the zone $382 to $402 is much required, any direction above or below this will continue the rally in the same direction.
Trade Setup: Enter in $382 to $402, without the $382 breakout for stop loss.
Trend: Neutral but Long-term Bullish.
Bittensor (TAO) Price Prediction
The overall current technical indicator shows a neutral above-support momentum. Currently on a breakout with a downward channel followed by a sideways pattern.
The price trading below 50 day and 200 days SMA entranced a death cross moment, the price is motivated to push down from here and hold at new support.
Traders should wait for the selling pressure to end and watch the price near $372 to enter the positions.
However, the TAO has now formed a sideway pattern, indicating a physical zone for neutrality. Bulls now demand for a potential breakout from the zone $382 to $402 is much required, any direction above or below this will continue the rally in the same direction.
Trade Setup: Enter in $382 to $402, without the $382 breakout for stop loss.
Trend: Neutral but Long-term Bullish.
Bittensor (TAO) Price Prediction
The overall current technical indicator shows a neutral above-support momentum. Currently on a breakout with a downward channel followed by a sideways pattern.
The price trading below 50 day and 200 days SMA entranced a death cross moment, the price is motivated to push down from here and hold at new support.
Traders should wait for the selling pressure to end and watch the price near $372 to enter the positions.
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