Bittensor moves lower as seller pressure intensifies

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Bittensor drops 7.03% to $218.1 today

Highlights

Bittensor subnets doubled annualized revenue to about $70 million over two months, showing stronger network operations.
Annualized revenues rose 40% from October to November 4, with most verified revenue from compute and infrastructure subnets.
TAO/USD trades below key moving averages, bearish momentum persists, with a 76% probability of further downside to $211.88.

Network revenue growth underpins TAO despite ongoing price pressures

Bittensor subnets recorded a doubling in annualized revenue to approximately $70 million over the past two months, reflecting a surge in throughput and enhanced core network operations, according to Kucoin. This expansion in operational revenue provides a more robust financial foundation and reflects the increasing productivity of the network. In addition, Tokenpost reported that as of November 4, the annualized revenue figure represented a 40% increase from October, with most of the verified revenue originating from compute and infrastructure subnets. These improvements in monetization and platform utility occurred even as price action has remained under broader selling pressure.

Bearish momentum dominates as TAO stays below technical support

TAO/USD is currently trading below the MA-20 at $221.09, the MA-50 at $228.48, and the longer-term MA-200 at $242.41, with the Ichimoku Kijun set at $224.65 serving as immediate resistance. MACD continues to issue a Strong Sell signal, while ADX is also leaning Sell, highlighting a dominant bearish momentum. Oscillators including RSI, Stoch RSI, and CCI remain neutral, showing no strong bias, with the Awesome Oscillator also neutral and Bull/Bear Power deeply negative at -1.98, confirming seller dominance. Support stands at $211.88 and resistance at $224.65.

Rangebound outlook favored amid heightened downside risk for TAO

Over the next 2–3 trading days, the most probable scenario is for TAO to remain rangebound between $211.88 and $233.3, reflecting typical volatility for the asset. There is a 76% likelihood of the price testing lower levels within this corridor, while the probability of an upward move remains limited at 24%. A bullish breakout above resistance at $224.65 would open the door to further gains toward the upper end of the short-term range, whereas a sustained move below $211.88 could see accelerated downside momentum and further seller activity.

Viktoras Karapetjanc, expert at Traders Union, sees robust network fundamentals for Bittensor, underpinned by a sharp increase in annualized revenue and operational throughput. However, he notes that this fundamental strength is not yet reflected in price action, with TAO still facing strong selling pressure and trading below key moving averages. Karapetjanc believes that the growing revenue from compute and infrastructure subnets reflects a healthy ecosystem and positions TAO well for a sentiment shift once technical momentum improves. He remains moderately bullish on the medium-term outlook based on these improvements. "Despite current bearish charts, I see the platform’s accelerating revenue as a foundation for renewed investor confidence when the market turns."

Earlier, analysts noted that Bittensor was exhibiting sustained downside pressure despite notable growth in network revenues and user engagement. The current analysis reinforces this bearish outlook, with technicals continuing to favor sellers and the $211.88 level emerging as a pivotal downside threshold to monitor over the coming sessions.

Source of Data: TAO Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.