Bittensor price drops — what’s behind today’s move

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Bittensor Slides 10.00% Today

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Anton Kharitonov, expert at Traders Union, sees Bittensor (TAO) facing persistent bearish pressure. He notes the price is far below all major moving averages, with technicals showing sellers in clear control. Indicators such as ADX and MACD confirm a negative trend and limited short-term buying interest. The failed attempt at recovery after a gap down reinforces his cautious outlook. Kharitonov warns, "As long as TAO cannot reclaim at least the $313.44 level, downside risk dominates and any rebound looks unlikely to be sustainable."

Viktoras Karapetjanc, expert at Traders Union, acknowledges the prevailing selloff in TAO but notes the sideways channel as a possible base for future setups. He highlights that, despite short-term weakness, the structure above $230.10 could attract renewed interest if momentum improves. Karapetjanc points to the high intraday volatility as offering potential opportunities for positioned traders. He asserts, "Should buyers manage to reclaim levels above $338.90, a bullish scenario would emerge and the wider market could quickly reprice TAO upward."

Parshwa Turakhiya, analyst, observes intense downside momentum and a clear dominance of sellers in the session. He notes the high volatility and prevalent oversold signals as signs that short-term trades favor bears. Turakhiya states that gap-driven setups may offer brief opportunities for nimble traders, but the bias remains defensive for now. He concludes, "If TAO fails to break below $230.10, short-covering could spark quick intraday rallies, but risks still outweigh rewards in this environment."

Selling pressure persists as technical indicators confirm weak momentum

TAO is trading at $263.80, well below its MA-20 ($313.44), MA-50 ($373.57), and MA-200 ($366.17), indicating sustained bearish pressure across short, medium, and long-term trends. The nearest dynamic resistance is seen at the Ichimoku kijun level of $338.90, with no nearby dynamic support identified in the current configuration. Momentum signals confirm an overall bearish environment. The D1 MACD shows a strong sell bias, while the ADX indicates a weak trend at 18.15. Multiple oversold signals from Stoch RSI, CCI, and BBP reflect sellers dominating the session. RSI at 39.35 and CCI at –65.37 both support a negative tone. The awesome oscillator trend also aligns with bearish momentum. Today’s session experienced a notable gap down at the open ($293.10 to $281.80), with the current price sitting at the bottom of the day’s range. Intraday volatility is high, and there is steady selling pressure following the open, with little sign of recovery so far.

Last time, analysts noted Bittensor (TAO) was trading well below its key moving averages, with technicals such as MACD, RSI, and CCI all showing strong selling pressure and confirming that sellers remain in control. Oversold conditions and negative momentum persist, while consolidation is expected within a typical volatility band of $240.00 to $290.00, as downside risk currently outweighs the potential for a bullish breakout.

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

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