Step-by-Step Scenario:
Current Context:
Price is consolidating above the 373–382 support (blue box) after a strong impulse from June lows. This zone aligns with a major HTF demand and retest of the recent breakout.
Expected Move:
Base Case: Holding the 373–382 zone triggers a new leg higher toward the $500 supply area.
Upside Target: $500+ (main target), with interim resistance at $440–460.
Trigger: Look for strong 1D closes above 401 for confirmation, or a quick dip and reclaim of 382 for entries.
Timing:
Expect the final move up to play out into late August. Watch for momentum and trend exhaustion as we enter September.
Major Correction Risk:
If price stalls or forms an SFP at $500 or in upper supply, look to reduce exposure and prepare for a multi-week/month correction.
Breakdown below 373 (especially daily close) invalidates the bullish scenario and may accelerate a correction back to 320–260.
Why:
The market structure remains bullish above support.
Still running on strong narrative/momentum, but approaching key supply zones and cycle timing.
Macro risk: Many alts (including TAO) could top as Q3 ends, mirroring historical cycles.
Current Context:
Price is consolidating above the 373–382 support (blue box) after a strong impulse from June lows. This zone aligns with a major HTF demand and retest of the recent breakout.
Expected Move:
Base Case: Holding the 373–382 zone triggers a new leg higher toward the $500 supply area.
Upside Target: $500+ (main target), with interim resistance at $440–460.
Trigger: Look for strong 1D closes above 401 for confirmation, or a quick dip and reclaim of 382 for entries.
Timing:
Expect the final move up to play out into late August. Watch for momentum and trend exhaustion as we enter September.
Major Correction Risk:
If price stalls or forms an SFP at $500 or in upper supply, look to reduce exposure and prepare for a multi-week/month correction.
Breakdown below 373 (especially daily close) invalidates the bullish scenario and may accelerate a correction back to 320–260.
Why:
The market structure remains bullish above support.
Still running on strong narrative/momentum, but approaching key supply zones and cycle timing.
Macro risk: Many alts (including TAO) could top as Q3 ends, mirroring historical cycles.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.