$TAO has lost a critical support level and is now trading deep inside a key demand zone.
Price has broken down from prior structure and is currently hovering in the ~$200–$275 range, an area that has historically attracted buyers. That said, the broader picture remains fragile.
Market structure is still decidedly bearish. Sellers continue to control momentum, and every short-term bounce so far has been met with renewed selling pressure rather than follow-through. This tells us that confidence hasn’t returned yet — rallies are being treated as exits, not entries.
From here, the levels are clear:
If the $200–$230 region holds, a short-term relief bounce is likely, driven more by positioning and oversold conditions than a true trend reversal.
If $200 fails, downside risk opens up again, with the potential for another leg lower before any durable bottom can form.
In short: this is a reaction zone, not a confirmation zone.
Patience matters here — strength needs to be proven, not assumed.
