The price of the TAO token has significantly risen after a long period of decline. This article discusses the current price levels and analysts' perspectives.
TAO Breaks Out of Long-Term Bearish Trend
After over a year of declining within a descending channel, TAO has finally demonstrated growth. The price reached $412, bouncing back from a low of around $167 to $210. This change marked a strong and clean breakout, allowing it to rise to $485.
TAO Faces Resistance
The next significant test for TAO is the resistance zone between $450 and $480. In the past, the price has faced rejections in this area, and consolidation is now occurring just below it. If buyers can break this resistance, the next target will be around $750.
Support Levels and Future Risks
The first layer of support is located around $350 to $370. If that level fails to hold, the next area to watch is the range between $322 and $250. Analyst Crypto Patel points out that a move below $200 would signal heightened risk, as it may indicate a weakening trend.
The current market fluctuations of TAO are drawing interest among traders who closely monitor price behavior. The direction of future movement depends on the token's ability to overcome key resistance levels.
