Analyzing Bittensor’s bearish structure – Is TAO headed to $200?

Bittensor [$TAO] remained under strong selling pressure. Since its rejection at $285, the altcoin has posted lower lows for seven consecutive days.

During this decline, $TAO dropped to $222 and appeared close to erasing all gains made earlier this month.

Amid the sustained sell-off, the altcoin fell below both its short- and long-term moving averages, signaling persistent bearish pressure.

On top of that, the Relative Strength Index (RSI) formed a bearish crossover and dropped to 44. The RSI’s move deeper into bearish territory reinforced the weakening market structure.

Are whales driving $TAO lower?

AMBCrypto observed that $TAO’s recent weakness coincided with rising whale activity. Data from CryptoQuant’s Spot Average Order Size showed large orders entering the market over the past week.

The spike suggested heightened whale participation in the Spot market. However, the metric alone could not determine whether whales were buying or selling.

By contrast, Spot Taker CVD remained negative throughout the same period. That indicated sellers maintained control of market activity.

Taken together, the two metrics suggested active whales were primarily selling. That selling pressure appeared to be a key driver behind $TAO’s continued decline.

In fact, the Spot Buy Sell Volume metric reinforced this trend. Since the 14th of June, sell volume has consistently exceeded buy volume.

As a result, the Buy Sell Delta remained negative for seven straight days, highlighting persistent Spot selling pressure.

Can $TAO avoid another drop?

Bittensor [$TAO] continued to face strong downward pressure, with whale-led selling dominating market activity.

If current conditions persist, the altcoin could revisit $214. A break below that level may expose the key psychological support at $200.

Even so, losing $200 could strengthen bearish momentum and open the door to a decline toward $185.

To invalidate the bearish outlook, $TAO would need to reclaim its short-term EMAs and close above $248. If buyers achieve that, the altcoin could regain strength and attempt a move toward $280, where the previous rally stalled.

Final Summary

• Bittensor’s recent decline coincided with rising whale selling, which helped push $TAO below key moving averages.
• Spot market data showed sellers remained dominant, increasing the risk of another move toward $214 or $200.