In the weekly timeframe, Bittensor (TAO) witnessed a modest decline of 2.81%. Presently, TAO is displaying a Cup and Handle pattern, with potential immediate support estimated around the $603 price level. Confirmation of this pattern is anticipated upon surpassing the $641 threshold, signaling a probable breakout towards the $690 target.
Assessing technical indicators, the oscillators indicate neutrality within the one-hour timeframe, while moving averages suggest a sell signal. However, on the weekly timeframe, oscillators lean towards sell indications, while moving averages advocate for a buy stance. This discrepancy might present confusion to users, underscoring the importance of conducting thorough research and exercising caution before investing.
It's worth noting that TAO is not listed on major exchanges such as Bybit and Binance. Risk-tolerant investors might consider exploring this project, while those averse to risk are advised to observe from a distance for the time being.
Assessing technical indicators, the oscillators indicate neutrality within the one-hour timeframe, while moving averages suggest a sell signal. However, on the weekly timeframe, oscillators lean towards sell indications, while moving averages advocate for a buy stance. This discrepancy might present confusion to users, underscoring the importance of conducting thorough research and exercising caution before investing.
It's worth noting that TAO is not listed on major exchanges such as Bybit and Binance. Risk-tolerant investors might consider exploring this project, while those averse to risk are advised to observe from a distance for the time being.
Comment:
TAO has broken the crucial support levels. But still I see the project a promising one. The 1D chart looks promising. Can grab some at this point.