Everyone calling $TAO a buy at $198 has not looked at the chart. RSI at 25 does not mean bottom. It means momentum is collapsing and has not found a floor yet. Here is the honest picture: $170 is the last real defense before open air. The volume profile shows almost nothing between $170 and $130. If $198 breaks with conviction, that drop is not slow. $198 is where price sits right now. Low volume zone. No buyers showing up with size. A level without volume behind it is not support. It is just a number. $315 is the Point of Control. That is where the majority of volume was built. Price below the POC means sellers own this chart. Every relief rally gets sold into that wall until it flips. $400 to $500 only becomes relevant after $315 is reclaimed. Do not skip levels. The market does not. MACD has not crossed. RSI near oversold can stay oversold longer than your conviction holds. One green candle does not repair broken structure. What actually changes this chart is a higher low above $170 followed by a volume-backed push through $315. That sequence has not started. Until it does, the people calling $198 a gift are early at best and wrong at worst. Save this. The levels will matter before this resolves.

Share







Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.