ambcrypto.com
Bittensor [$TAO] was down 2.1% in the past 24 hours and was nearly 4% down over the past week. It saw a swift bounce from $194 to $291 in mid-June, but this bounce did not translate into a bullish trend recovery.
Interestingly, it was the very same support zone around $194 that $TAO crypto prices recently slid below.
Macro factors such as the FOMC’s rate decision can send Bitcoin [BTC] into a bearish trend. What could $TAO crypto see in the coming weeks?
Bittensor has traded within a range [purple] from $168 to $496 since April 2025. The range formation on the weekly chart above showed that the rally beyond $300 made earlier this year was only part of a move toward the mid-range resistance at $330.
Since March, the OBV has been falling lower with no pause, showing steady selling pressure. The MACD has also been below the zero line for the most part since early 2025.
Together, the volume and momentum indicators showed bulls were weak, and bears controlled the $TAO crypto markets. The higher-timeframe trend leaves room for another test of the range lows near $168 if selling pressure persists.
A spark of hope for Bittensor bulls?
While the weekly chart showed a range and downward momentum, the 1-day timeframe made an optimistic argument. The swing structure broke bullishly during the March rally, and has since retraced to $194, the 78.6% Fibonacci retracement level.
Ideally, this is where a bullish reversal tends to commence.
However, this level has been tested twice since June, showing bears have the upper hand. The speed of the recent rejection suggests buyers have yet to regain sustained control of the trend.
Therefore, traders can maintain a short-term bearish bias. $TAO crypto prices were below the 20-day moving average [orange], and the OBV has been flat in recent weeks, showing little buying volume.
Unless proven otherwise, a drop toward $168 or lower is likely what is in store for the Bittensor token.
Final Summary
- $TAO’s daily chart continues to hold above its broader bullish structure, but repeated tests of support have weakened the recovery attempt.
- Persistent selling pressure on the weekly timeframe means the broader market bias remains tilted to the downside until buyers reclaim key resistance.