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Bittensor (TAO) Slips 7%; Are Bears Gearing Up for a Bigger Move?
Bittensor (TAO) slips 7% in the past 24 hours and is showing mixed signs on its technical charts. As per CMC data, it is trading at $405 after facing resistance at $500. Throughout 2025, this altcoin has seen many big price changes, which make it both attractive and risky for traders.
It appears that the price has been moving in a consolidation phase since the early 2025 highs. In late 2024, TAO hit a high of over $740, but after that, it went through a correction that dropped the price to support levels between $168 and $200 in March-April 2025. After falling by 70% from its highest point, the token was able to recover a lot.
After a robust recovery, TAO is currently trading in a tight range, with resistance trendlines sloping down and support trendlines sloping up. Usually, this compression pattern ends with a breakout, and the volume tends to rise at the same time.
What’s Next In Bittensor (TAO) Price?
Presently, the 200-period EMA is below the price, showing the trend is still in a bullish phase. A bullish crossover was also noticed on the daily time frame between the 50-day and 200-day EMA levels, showing bullishness.
The social sentiment indicator stands at 0.21, which means the market is moderately positive but not in an extreme state. Recent bearish divergence is shown by the MACD histogram’s reading of -6.24, indicating that short-term momentum might be decreasing.
Important resistance levels are $500 and $550. Support is placed at $400 and $350. A move above $500 that is supported by strong volume could push the price to $550-600, whereas a fall below $350 could return to the March lows around $200.Highlighted Crypto News Today:
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