TAO Price Reaches Crucial Support Level as $300 Target Looms
The price of TAO is currently testing its support level at $230, which could set up a move towards $300 if buyers can successfully defend it.
This level has been a key area of focus for TAO's outlook, with the token's recent comeback in August generating an uptrend after gaining support near $186. The rally to $275 was a sign of improved momentum, but the current drop has taken away from this gain and placed TAO back into an area that was previously resistance.
According to analysis by Satoshi Flipper, this retest could give a chance for continuation of the bull setup provided that it defends its support level. If there is a recovery in this area, it will bring the previously made high of $275 back on the radar, and potentially lead to a breach of this level with a more convincing move.