Yesterday I posted the $TAO setup at $270.

The level that mattered was $264.4.
Today, the daily candle closed below it.
This is the update every $TAO holder needs to see right now.
Current price: $258.7
200-day MA: $264.4
For the first time since the March recovery began, $TAO has printed a confirmed daily close below the 200-day moving average.
This is not a wick below and bounce.
This is a full daily candle close under the most important line in technical analysis, with elevated volume.
Volume confirmation
28.94K TAO traded today while price broke the level.
High volume on a bearish close below the 200-day MA is the confirmation signal. It means real sellers at real size made this move. Not a thin overnight drift.
Momentum / strength
MACD is deeply negative at negative 5.7 with the signal line declining from 1.4.
RSI has dropped to 40.41 on the daily, approaching oversold but not there yet. More room to the downside before RSI forces a bounce on this timeframe.
Here is what the chart is telling you now.
$264.4 has flipped from support to resistance.
Next support levels (in order):
- $257. Today’s low. Holding right now.
- $240. The base of the March recovery before the April rally began.
- $200 to $210. The zone price consolidated in February before the final push to the bottom.
- $140 to $160. The major base where the full downtrend ended.
The bull case is still alive, but it requires one thing:
A reclaim of $264.4 on a daily close with volume in the next one to two candles.
Every daily close below $264.4 from here makes the bear case stronger and the bull case harder to argue.
$TAO gave you the warning yesterday at $270.
The chart delivered the answer today.
The people who understood the level before did not need to wait for this candle to know what it meant.