$TAO Technical analysis is showing early signs of improvement. A strong bullish divergence has emerged on the 1-hour, 4-hour, and daily charts, which is often considered an early indication of a possible change in market trend. This pattern indicates that the selling momentum may be weakening, paving the way for a short-term upside move.
Using the strategy outlined above, a buy entry at $224 is indicated, with a stop loss at $205 to minimize risk. The first target on the upside is near $242, followed by a strong target at $260 if the momentum continues.
But on the downside, risks are still present. If $TAO cannot hold above the $214 support level, the correction may continue, with $167.43 being a strong support level to watch out for in case of a strong decline.
Bittensor is currently at a critical juncture, with technical analysis indicating a possible bounce, but support levels still dominating the short-term market outlook. $XRP
