#GateSquareAprilPostingChallenge $TAO ‌experienced a sharp 20% price drop after 37,000 tokens were suddenly released into the market.


 
The exit of Covenant AI triggered a chain reaction, resulting in over $9 million in long position liquidations.
 
$250 is identified as the key support level for bulls; holding above this is crucial to prevent further downside.
 
To regain strength, TAO needs to reclaim the300-$320 price range.
 
If $250 support fails, a rapid move down to $220 is expected.
 
The event has led to a significant spike in trading volume, indicating heightened market activity and volatility.
 
The price is currently in a make-or-break zone, with traders closely watching for either a recovery or further breakdown
TAO-18.46%
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