I had been told of TAO when it was already over 70 USDT and I thought it would have retraced a bit to buy but instead it never really did a proper retracement and it has been on fire since then.
Yesterday I noticed that what it should have been a retracement attempt really turned into consolidation (bullish pennant I'd say) which is now breaking out. Honestly too much pumping, as you can see it's been over the TMA for a month now. Assuming for a chart so young TMA is reliable I'd expect a retracement but... PEOPLE IS BULLISH and when people is bullish pumps exceed expetation and TA. Even the oversold RSI and the clearly bearish DIV could mean nothing if people remains too much bullish.
I would love to pick some TAO around 140 USDT but it seems unlikely at this point, if this breakout doesn't pump too much maybe 170 area is more doable. The volume is lowering though!
Here the 4h chart:
At 4h the volume spiked so maybe we could see volume start rising again.
Yesterday I noticed that what it should have been a retracement attempt really turned into consolidation (bullish pennant I'd say) which is now breaking out. Honestly too much pumping, as you can see it's been over the TMA for a month now. Assuming for a chart so young TMA is reliable I'd expect a retracement but... PEOPLE IS BULLISH and when people is bullish pumps exceed expetation and TA. Even the oversold RSI and the clearly bearish DIV could mean nothing if people remains too much bullish.
I would love to pick some TAO around 140 USDT but it seems unlikely at this point, if this breakout doesn't pump too much maybe 170 area is more doable. The volume is lowering though!
Here the 4h chart:
At 4h the volume spiked so maybe we could see volume start rising again.