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TAO was trading around $205 at the time of writing after reaching $210 earlier in the session. Today’s close will show whether the latest move can hold after weeks of resistance from the 50-day average.
Key Takeaways
- TAO’s first task is keeping the 50-day SMA underneath price.
- A clean $206 reclaim would improve the path toward $225.
- Enterprise testing offers the strongest fundamental support for the rebound.
- Grayscale improves institutional visibility but does not prove persistent demand.
Testing the 50-Day SMA
TAO had remained below its 50-day SMA since mid-June before finally closing back above the average yesterday.
The moving average currently sits near $203 and is now being tested as potential support. Just above it, the 0.786 Fibonacci retracement clos...
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