Action: Long & Short Positions
Entry Range:
- Long: $520 - $527
- Short: $530 - $533
SL (Stop Loss):
- Long SL: $517.40
- Short SL: $535
TP (Take Profit):
- Long TP: $541 - $606
- Short TP: $514 - $485
Analysis
TAO shows potential for short-term volatility as the price oscillates within a consolidation range of $507 to $531. The 24-hour volume indicates a steady trading activity with a Vol/Mkt Cap ratio of 6.27%, hinting at decent liquidity. Given the market cap of $3.89B and a circulating supply of 7.38M TAO, price action could remain dynamic near current levels.
For scalping:
- Long: Enter around $520-$527 as prices approach the lower end of the consolidation range. Look for upward momentum supported by volume spikes to ride the bounce.
- Short: Enter around $530-$533 at the resistance level if upward momentum wanes or bearish patterns form.
Risk Management: Use tight SLs of 0.5%-1.5% to minimize losses while targeting a 3%-15% TP range depending on market conditions.
🥂 Trade Now (Link in BIO)
🚨 Note: Trade at your own risk. DYOR.