TAO: Big Bounce — But the Primary Trend Still Points DownTAO / TetherUSBINANCE:TAOUSDTDukesMarketAnalysisBuyers Defend Support TAO has produced a strong reaction from the $192 area, which has attracted buyers on several occasions since February. The latest bounce reached $250.30 before meeting some selling pressure. Primary Trend Remains Bearish Despite the recovery, the bigger picture hasn’t changed. TAO continues to trade within a broad sequence of lower highs and lows, leaving the primary trend firmly down. Weekly EMAs Still Overhead Price remains below the bearishly positioned 100/50-week EMAs, with the 50-week EMA currently sitting just above price. Reclaiming these averages would be another important step towards improving the longer-term picture. Major Resistance Still Ahead The $291.60 area stands out as the next significant resistance, having been tested repeatedly since June 2025. A break above this area would give the current recovery considerably more weight. Momentum Starting to Improve StochRSI is rising from lower levels, while RSI is pushing towards 50. Momentum is improving, but there is still little evidence yet that the broader bearish structure has genuinely changed. In Summary TAO has bounced strongly from the well-established $192 support area, but this remains a recovery within a broader downtrend for now. Price is still below the 100/50-week EMAs and the longer-term structure continues to favour the bears. Momentum is improving, but the bigger test lies around $291.60. A convincing break through that area would be a much more meaningful sign that TAO is beginning to repair its bearish structure.