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📊 $TAO testing a descending channel after Bittensor's correction
TAO peaked near $480 in early November, then entered a clear descending channel that's held for 7 months. Price has reclaimed the 0.236 Fib level at $263.6 multiple times since — a level that's acted as support on each retest.
Currently trading around $229-273, sitting right at that reclaimed Fib zone. Resistance above sits at $376.6 — the channel top.
Holding above $236.2 keeps the recovery thesis alive. Losing it opens the door back toward channel lows.
Not financial advice. DYOR.#TAO