$TAO is currently undergoing a short-term correction after delivering a strong bullish expansion on the 30-minute chart. Price climbed rapidly from the $239–$243 region and eventually reached the $258–$260 area, where sellers began defending the highs. The resulting rejection has brought TAO back toward $248.70.
The current decline should be viewed in the context of the previous impulse. Rather than immediately treating the pullback as a reversal, the important question is whether buyers defend the $240–$243 demand zone.
This was the area that provided the foundation for the previous upward move and could once again attract buying pressure.
If the demand zone holds, TAO could recover toward $250–$255 before challenging the $258–$260 resistance area again. A decisive breakout above those highs would strengthen the bullish structure and put the projected $262 target in focus.
However, losing $240 would invalidate this bullish continuation scenario and signal that a deeper correction may be developing.
#TAO #btc70k $ICP
The current decline should be viewed in the context of the previous impulse. Rather than immediately treating the pullback as a reversal, the important question is whether buyers defend the $240–$243 demand zone.
This was the area that provided the foundation for the previous upward move and could once again attract buying pressure.
If the demand zone holds, TAO could recover toward $250–$255 before challenging the $258–$260 resistance area again. A decisive breakout above those highs would strengthen the bullish structure and put the projected $262 target in focus.
However, losing $240 would invalidate this bullish continuation scenario and signal that a deeper correction may be developing.
#TAO #btc70k $ICP
