On the 4-hour timeframe, TAOUSDT is consistently forming higher lows, but the structure still aligns with a bearish trend overall. For a clear breakout confirmation, price needs to surpass the $380 resistance zone.
Currently, both the Stochastic RSI and RSI are in the overbought region, indicating that sellers have started booking profits. This explains the short-term selling pressure.
If the price sustains above the $320 support level, there is potential for a reversal move toward new highs. However, failure to hold this zone could lead to another retest of the critical support near $287.
Traders should wait for confirmation before positioning, as the next direction depends on whether $320 holds or breaks.
Currently, both the Stochastic RSI and RSI are in the overbought region, indicating that sellers have started booking profits. This explains the short-term selling pressure.
If the price sustains above the $320 support level, there is potential for a reversal move toward new highs. However, failure to hold this zone could lead to another retest of the critical support near $287.
Traders should wait for confirmation before positioning, as the next direction depends on whether $320 holds or breaks.
FOLLOW MY TELEGRAM CHANNEL FOR FREE : bit.ly/3JfrpgV
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
FOLLOW MY TELEGRAM CHANNEL FOR FREE : bit.ly/3JfrpgV
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.