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TAO crypto dropped nearly 4.78% in Intraday and was trading close to $652.68 on Thursday. - 2
The TAO/USD daily chart showcases the formation of a rising parallel channel pattern.
TAO Crypto Volatility Study
Moreover, the Bittensor crypto seems comfortable at current price levels, indicating that the sellers are getting weaker, and the bulls may assist the crypto price to drive towards higher price levels.
Social Volume And Social Dominance Insights
The social dominance including X TAO news, X followers, and social volume (including active users of Telegram and Twitter), shows an activity of active users and X chatter rising and falling. These metrics confirm that the TAO token is gaining popularity.
Sentiment Overview About Bittensor Price.
The above chart displays the negative, positive, and weighted overall sentiments of the TAO crypto. The data exhibits frequent fluctuations of sentiments in the recent sessions from positive to negative. The fluctuations indicate the volatility in the crypto and the weighted sentiment is at -0.254, positive sentiment at 5.613, and negative sentiment at 2.276.
TAO Crypto Trend Outlook.
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נייַ טראַדינגוויעוו.טשאַרט (טראַדינגוויעוו_עמבעד_אָפּציעס);
The long term trend outlook is positive which may invite more buying volumes at the lower levels. Now, the short term trend seems to be neutral and volatile until the TAO crypto is maintained between the boundaries of the channel.
Any breakout above the higher side of the upper boundary of the channel may indicate a short term trend shift towards the bullish side and the price may experience a short term bull run towards the $800 and $850 level.
On the flip side, any sustained move after the breakdown below the lower boundary may drag the Bittensor crypto price towards the multi month low value of $560 and $500 levels.
מסקנא.
The TAO crypto took support from the lower boundary of a rising parallel channel pattern and jumped higher yesterday. However, the bulls could not resume on the second consecutive day and lost after gaining in the early morning sessions. The daily chart showcases the formation of a parallel channel pattern with the price rolling between both the boundaries of the channel.
Now, the short term trend may remain neutral and volatile until the Bittensor price is maintained in the range. The breakout or breakdown on either side may decide a clear trend.
טעכניש לעוועלס:
- שטיצן לעוועלס: $ 560 און $ 489.
- קעגנשטעל לעוועלס: $735 און $796.
אָפּלייקענונג
די מיינונגען און מיינונגען סטייטיד דורך דער מחבר, אָדער קיין מענטשן געהייסן אין דעם אַרטיקל, זענען בלויז פֿאַר ינפאָרמיישאַנאַל צוועקן און טאָן ניט פאַרלייגן פינאַנציעל, ינוועסמאַנט אָדער אנדערע עצה. ינוועסטינג אין אָדער טריידינג קריפּטאָ אָדער לאַגער קומט מיט אַ ריזיקירן פון פינאַנציעל אָנווער.
Source: https://www.thecoinrepublic.com/2024/03/21/is-next-rally-going-to-be-as-big-as-a-skyscraper-in-tao-crypto/