Bittensor (TAO) has given humongous returns to its investors, which exceeds over 1600%, peaking at $755.01 (ATH) from October 2023 to March 2024. However, it encountered a supply zone and failed to harness further gains above $755.01. This was followed by profit booking in TAO, which loosened more than 70% of its previously achieved gains.
After failing to surpass $755.01, the price entered a spree of lower lows, going back to the original demand level in the next 4 months by July 5th.
Thereon, the price rose briefly and breached the upper border of the falling wedge. But, it met the $358 level that dusted its price downwards, which in continuation slipped the swing low of previously built at $300.
The current scenario depicts a short-term decline and the failure of the falling wedge. Therefore, the bears could eye support levels of $260 and $240, respectively. On the contrary, if any sudden support spikes the price, then the resistance could be at $330 and $358, respectively.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.