$TAO just broke a level that held for 3 months.

Most people are watching $200 like it is a floor.
It is not a floor.
It is the last line before $160 becomes the conversation.
Here is what the chart is actually saying:
Peak at $380 in April.
Lower high at $335 in May.
$225 support flipped to resistance this week.
Volume on the drop is the highest since the top.
That last point is the one nobody is talking about.
High volume breakdowns do not reverse quietly.
They base. They retest. They shake out the patient ones first.
$TAO is not broken as a project.
The subnet economics are still the strongest in AI crypto.
The halving mechanics are still in play.
Yuma and the institutional validators are still building.
But the chart does not care about fundamentals right now.
The chart is asking one question:
Who is left to sell?
If $200 holds with a clean daily close and volume dries up, that is your first signal.
If it breaks, $160 is not a prediction. It is just the next support on the map.
Save this post. Check back in two weeks.
The people who understood this before the bounce will not need to explain themselves later.