Bittensor (TAO) price recently pushed above the key $200 level, signalling renewed bullish momentum after weeks of consolidation. However, the breakout quickly attracted selling pressure, pulling the token back below the psychological threshold and triggering a short-term correction. The move highlights how closely traders are watching this zone as a critical decision level.
Despite the pullback, TAO continues to trade within a broader bullish structure on the higher timeframe. The recent dip appears more like a controlled retracement rather than a full trend reversal. If buyers manage to defend nearby support and reclaim $200 with strength, the correction could soon fade, opening the path for a fresh attempt toward higher resistance levels in the coming sessions.
TAO remains in a clear downtrend, forming consistent lower highs since the November peak near $500. The descending trendline continues to cap upside attempts, while the 200-day SMA sits much higher around the $310 region, confirming that the broader trend remains bearish.
The recent rally toward $200 marks the first meaningful bounce after a sharp capitulation-style drop. However, price is still trading below the descending trendline, the 200-day SMA and the major horizontal resistance zone near $220, keeping the higher-timeframe structure cautious.
The MACD is showing early signs of a bullish crossover from deeply negative territory. Histogram bars are shrinking, suggesting bearish momentum is weakening. This often precedes a relief rally or short-term trend reversal. Volume expanded during the recent bounce, indicating genuine buying interest rather than a weak dead-cat bounce. However, sustained upside requires continued volume expansion on breakout attempts.
$200 can be considered as a psychological level that may further push the rally towards the demand zone between $220 and $230, if secured in time. Although the pivotal resistance zone around $300 is distant, the price range between $120 and $217 may act as a strong base and trigger a strong upswing.
The Bittensor price is displaying strength, but a weekly close above $200 is mandatory to keep up the bullish trend. With this, the rally may enter the bullish range, raising the possibility of a V-shaped recovery to the neckline around $300. Only a sustained rise above this range may increase the possibility of a strong upswing to $500; otherwise, the TAO price may remain consolidated below the range until the required volume kicks in.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The South Korea stock market extended its decline as heavy selling hit major chipmakers, including…
Pump.fun price is trading close to $0.0020 after rallying nearly 50% from its recent swing…
The KOSPI index is approaching the key 6,500 level ahead of SK Hynix's earnings, with…
Story Highlights The current price of the LEO token is LEO could attempt a move…
With the U.S. Clarity Act facing an uncertain future in the Senate, Republicans reportedly still…
Storj Labs has voluntarily filed for Chapter 11 bankruptcy in the United States, seeking to…
