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Cryptocurrencies may have left their worst days behind. High-level statements regarding tariffs have been made, with China’s tax rates soaring to 250%, prompting the need for all stakeholders to come together as the vicious cycle ends. What is the target price for TAO Coin? Experts assert there is no cause for fear concerning cryptocurrencies.
Confidence in the Crypto Market
As altcoins have reached new lows for months, Bitcoin’s market dominance has surged to historic highs. With this change in market sentiment, the overall fear surrounding altcoins seems to be dissipating, indicating that an upward trend could be on the horizon. Kyle shared a graph in today’s assessment, emphasizing that there is no need for fear.
“Seventy-five percent of Bitcoin 
$103,229 supply is still in profit. Even though all-time high losses have occurred, most pain stems not from long-term investors, but from top buyers. Currently, the profit percentage is close to the long-term average – a battleground between bulls and bears.
Historically, maintaining this line has been significant for bulls.”
With short-term investors having ceased their sell-offs to escape losses, we can now enter a true upward phase where long-term buyers may start selling. Naturally, this does not have to be strictly governed by historical data, as developments on a macro level will be crucial triggers.
Today, Jelle pointed out the importance of the Thursday CME closing given it’s a holiday.
“The daily uptick deviation is just above key support, leading to an exit from a months-long downtrend. The RSI is also trying to return to the bullish zone. As I mentioned – the explosive chart has never stopped looking good.
It’s heading higher.”
What is the Price Target for TAO Coin?
In today’s assessment, DaanCrypto focused on TAO Coin. He noted that the current outlook resembles last year’s low story, expecting significant movement around the $360 mark.
“TAO closely resembles last year’s dip structure. It is right in the same price range. We will see how it moves from here; a higher low has been established, and the trend just needs to continue. The key medium/high timeframe region to watch is around $360.”
TAO Coin continues to hover around the $250 mark, and if a similar process to the previous movement occurs, we may see a rise towards $700.
