TAO has experienced a strong rally after breaking the descending trend on the 4-hour chart, reaching a critical resistance level at $470. This area could serve as a decisive point for price movements.
The $470 Level is a Key Threshold!
If a rejection occurs at $470, the bullish FVG left behind may act as a support level in case of a pullback. This area is a crucial zone where buyers might step in again to push the price upward.
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What Are the Next Targets?
If the $470 resistance is broken, the next target to watch is $493.5. This level also represents a strong resistance that could influence price action. If $493.5 is surpassed, the price may aim for the bearish order block located in the upper region.
In the coming hours, the price action around $470 will be key for TAO. Traders should closely monitor support and resistance levels while shaping their strategies.
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