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TAO Likely to Form a Bullish Breakout Soon

Written By: ChartChamp

October 11, 2024

TAO has a very similar setup as SUI, trading near all time highs with a bullish rising channel into resistance near all time highs. TAO continues to trade within this yellow channel, and has formed a bullish rebound around $535. I have $711 as my next key target near the upper range of this yellow channel. Both TAO and SUI have been experiencing a bull market while most of the crypto market has been underperforming. I think these are two strong cryptos that are likely to continue outperforming throughout the bull run cycle.

TAO/BTC Bullish Breakout Above Previous All Time Highs

On the TAO/BTC pair there is a bullish breakout forming with TAO flipping the previous all time high resistance level into support. I have 0.02236 as my next key target for TAO, which is more than 100% gains relative to BTC. This means if you invested 1 BTC into TAO you would turn it into 2 BTC.

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