$TAO has now reached the first key target for a third wave, sitting around the 138% Fibonacci extension. Hitting this level means the market has already achieved the minimum move typically expected for a third wave within the current structure.
From a structural standpoint, a wave 4 correction could start at any moment. However, it’s also common for a third wave to extend further before any meaningful pullback occurs. Because of this, a continued move toward the 312–333 USD range still remains a realistic possibility.
If the market eventually shifts into a wave 4 retracement, the first support zone to watch would be between 201 and 246 USD. This area could act as the initial region where a typical wave 4 pullback forms before the broader bullish trend resumes.