TAO Crypto Struggles as Bears Regain Control
TAO, the cryptocurrency associated with Bittensor, has been testing a key long-term support level at $194. In recent days, TAO's price has slipped below this crucial zone, sparking concerns among traders and investors.
A swift bounce from $194 to $291 in mid-June offered hope for bulls, but the momentum was short-lived. Since then, the cryptocurrency has been trading within a range of $168 to $496 since April 2025, with no clear signs of breaking above the resistance at $330.
The OBV (On Balance Volume) indicator shows steady selling pressure since March, while the MACD (Moving Average Convergence Divergence) has remained below the zero line for most of the year. These indicators suggest that bears still hold the upper hand in the TAO market.