Hussain-963
little trader
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Trader systematyczny
Lata: 4.1
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Portfolio
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Bittensor (TAO) price has come under pressure after facing a strong rejection near the $280–$290 resistance zone, leading to a sharp breakdown in recent sessions. The price is now consolidating around the $240 support level, which is acting as a key short-term base. This level is critical, as it previously served as a consolidation zone before the last upward move. A failure to hold above $240 could accelerate downside momentum, potentially dragging TAO toward the $220–$210 range.
From a technical perspective, TAO remains in a short-term bearish structure, with lower highs forming after the rejection. The RSI has dropped below the midline and is hovering near oversold territory, indicating weak momentum but also hinting at a possible relief bounce. For bulls to regain control, TAO needs to reclaim the $260–$280 zone, which now acts as a strong resistance band. Until then, the price action suggests continued weakness, with traders closely watching whether $240 holds or breaks.
From a technical perspective, TAO remains in a short-term bearish structure, with lower highs forming after the rejection. The RSI has dropped below the midline and is hovering near oversold territory, indicating weak momentum but also hinting at a possible relief bounce. For bulls to regain control, TAO needs to reclaim the $260–$280 zone, which now acts as a strong resistance band. Until then, the price action suggests continued weakness, with traders closely watching whether $240 holds or breaks.
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