Bittensor (TAO) fell 2.1% in the last 24 hours and almost 4 percent decrease last week. saw a rapid jump $194 to $291 In mid-June, however, this bounce did not translate into a bullish recovery.
Interestingly, it was the same support zone around $194 TAO said that crypto prices have recently fallen.
Macro factors such as the FOMC’s rate decision, Bitcoin (BTC) entered a downward trend. What might TAO crypto see in the coming weeks?
Bittensor traded in the following range (purple): $168 to $496 Since April 2025. The range formation on the weekly chart above indicates a rally beyond the uptrend. $300 It was only part of the move towards mid-range resistance made earlier this year. 330 dollars.
Since March, OBV has been declining without any pauses, showing a steady selling pressure. The MACD has also been mostly below the zero line since the beginning of 2025.
Volume and momentum indicators together showed that the bulls were weak and the bears were controlling the rise. TAO crypto markets. Higher timeframe trend leaves room for another test of nearby range lows $168 If selling pressure continues.
A glimmer of hope for Bittensor bulls?
The weekly chart shows a range and downward momentum, while the 1-day time frame optimistic argument. The swing structure experienced a breakout to the upside during the March rally and has since bounced back. $194, 78.6% Fibonacci retracement level.
Ideally, this is where the uptrend tends to start.
However, this level has been tested twice since June and has shown that the bears have the upper hand. The speed of the recent rejection suggests that buyers have not yet established sustained control of the trend.
Therefore, investors can maintain a short-term bearish sentiment. TAO crypto prices have been below the 20-day moving average (orange) and OBV has been flat in recent weeks, showing little buying volume.
Downgrade unless proven otherwise $168 or lower probably awaits the Bittensor token.
Final Summary
- TAO’s daily chart remains above the broader bullish structure, but repeated tests of support have weakened the recovery effort.
- Continued selling pressure on the weekly timeframe means the broader market trend will continue to be downside until buyers regain key resistance.
