# Fibonacci

📉 XRP (XRP) Price Update
XRP is showing signs of weakness after failing to hold recent gains ⚠️
Last week, the token corrected over 5% following rejection at the lower trendline of a falling wedge pattern. On Monday, XRP briefly bounced, closing above the daily resistance at $2.35, but lost momentum with a 3% drop on Tuesday.
As of Wednesday 🕒, XRP trades around $2.41, hovering just above key support.
🔻 Bearish Outlook:
If XRP closes below $2.35, the correction could extend toward the next daily support at $1.96. The RSI also favors the bearish sentiment, similar to Bitcoin and Ethereum.
🔹

📉 Bittensor (TAO) Market Update
Bittensor is currently trading above the 200-day EMA at $361 as of Wednesday 🕐, after losing the $400 psychological support in a 5% drop on Tuesday.
⚠️ The overhead resistance at the 50% Fibonacci retracement level ($458) — drawn from the December 6 high of $748 to the April 7 low of $167 — triggered the recent pullback seen this week.
🧭 Key Levels to Watch:
🔹 Immediate Support: $361 (confluence of 50-day, 100-day & 200-day EMAs)
🔹 Next Support: $304 (23.6% Fibonacci level)
🔹 Resistance Zone: Around $458
If TAO slips below $361, the decline could deepen to

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PENGU's cup & handle + Fibonacci 2.618 extension = BULLISH HEAVEN! Previous 2.618 hit delivered exactly 500% gains. If this pattern completes, we're looking at similar explosive moves 🚀
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