TAO crypto faces 11% dip, consolidates below $500 – What now?

Key Points

1. TAO crypto is trading below the long-term resistance at $500 despite a recent 35% rally, with price action restricted between $425-$435 over the weekend.

2. Bitcoin's 0.65% price dip on July 28 did not positively impact TAO's performance.

3. TAO's swing structures remain bullish, with June’s high of $443 surpassed earlier in July, setting up a potential rally to $489.

4. A bearish divergence was noted as the MFI made a lower high while the price made a higher high, leading to a dip to reset the $400 support zone.

5. The CMF remains above the +0.05 level, indicating significant buying pressure, and a drop below $400 is not expected in the near term.