Bittensor Price Struggles Above $200 Amid Uncertain Breakout

The price of Bittensor (TAO) briefly reached $205.56 on August 12, but its breakout remains uncertain.

According to data from CoinGlass, TAO futures open interest is approaching $300 million, indicating that traders are building positions.

However, the Chaikin Money Flow (CMF) shows that capital flows remain slightly negative at -0.06, and the Average Directional Index (ADX) is at 19.40, which suggests a weak trend.

The price has been stuck in the $195-$205 area for some time, with buyers needing a daily close above the $204-$206 range to confirm a breakout.

Looking ahead, if TAO clears this range, $220 could be the next target, while below it, $186 remains the main downside level.