Lokesh Gupta
03-07-2024
Over $8 million worth of $TAO, approximately 32,000 tokens, were stolen, causing a significant 15% decline in token value from $278 to $236.
Multiple wallets linked to the Bittensor network were attacked, leading to a temporary halt in on-chain transactions.
Bittensor has been in a downward trend since it reached its highest point in April 2024.
On the daily chart, $TAO failed to breach the upper resistance line of its trading channel, reaching a near 5-month low.
TAO's price has dropped sharply, currently trading below all major moving averages, suggesting a bearish trend.
The RSI is approaching 30, suggesting that TAO has been oversold.
According to Coingabbar Prediction, If TAO manages to hold above the $200 support level, a rebound towards the upper channel could be expected.
KEY LEVELS :
RESISTANCE LEVEL : $250.00-$280.00
SUPPORT LEVEL : $215.00-$190.00
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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