Bittensor Price Hits Make-or-Break Level Amid Weakening Momentum

The price of Bittensor (TAO) is currently testing a critical level at $214 after failing to break through resistance. According to an analysis by CryptoTXG, TAO's failed breakout has weakened its momentum, leaving it vulnerable to a deeper pullback unless buyers regain control and reclaim the rejected level with strength.

The current price of TAO is trading at $197.24, up 3.11% in the past 24 hours. The trading volume has shown a strong bullish surge, increasing by 51.87% to $99.38 million. However, the short-term momentum appears weaker, with CoinCodex projecting a potential decline of 25.02% over the next 30 days.

CryptoTXG believes that if TAO fails to reclaim the $214 level, it will likely retest its support at $167.43. The analyst notes that the token has already moved lower after the failed breakout and stopped before reaching the support level.