TAOUSDT Breaks Descending Trendline!BINANCE:TAOUSDT daily chart is showing a potential bullish breakout as price moves above a long-term descending trendline. This breakout, combined with support from the 100 and 200 EMAs, indicates growing upward momentum. If price holds above this trendline, the next key resistance lies around the $750 level. A successful breakout and retest could pave the way for a major rally toward $2,000. GETTEX:TAO
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TAOUSDC
#TAO/USDT
#TAO
The price is moving within a descending channel on the 1-hour frame, adhering well to it, and is heading for a strong breakout and retest.
We are seeing a bounce from the lower boundary of the descending channel, this support is at 326.
We have a downtrend on the RSI indicator that is about to be broken and retested, which supports the upward trend.
We are looking for stability above the 100 moving average.
Entry price: 330
First target: 338
Second target: 347
Third target: 358
TAO in coming days ...Currently, TAO is forming an ascending triangle, indicating a potential price increase. It is anticipated that the price could rise, aligning with the projected price movement (AB=CD).
However, it is crucial to wait for the triangle to break before taking any action.
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⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!