Bittensor (TAO) faces a critical test as traders eye $447 as a breakout level. Crypto analysts highlight this resistance as a major hurdle for bulls. Price action remains volatile, with strong supply pressure limiting upward movement. Meanwhile, key support levels could determine the next move. The market remains indecisive, awaiting confirmation of a bullish or bearish trend.
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Key TAO Price Levels to Watch
Crypto analyst Crypto Tony pointed out $447 as the level bulls need to break. The current market structure shows rejection near this resistance, signaling strong selling interest. If TAO closes above this point, it could pave the way for a move toward $470 and beyond.
$TAO / $USD – Update
— Crypto Tony (@CryptoTony__) February 24, 2025
$447 is the next level for the bulls to really get behind right now. Flip that and it is show time pic.twitter.com/cioc7Y5W03
Additional resistance exists at $470, where past attempts to hold gains failed. A sustained push above both levels would strengthen bullish momentum. Conversely, failure to reclaim $447 could keep the price range-bound or lead to a downturn.
Key support lies around $350, a level tested multiple times. A break below this zone could accelerate selling pressure. The next critical area is between $250 and $260, where previous buying interest emerged.
StefanB, another trader, noted that TAO’s recent rejection aligns with hedge short positions being triggered. He pointed to a possible drop to the $310-$290 range if bearish sentiment persists. Market participants are closely watching price action around these key levels.
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Bittensor’s Current Market Conditions
TAO trades at $365.85, reflecting a sharp 14.60% decline in 24 hours. Trading volume reached $420.7 million, indicating active participation. The price remains largely neutral over the past week, with a slight 0.17% increase.
$TAO Hedge short printing.
— StefanB (@Stefan_B_Trades) February 25, 2025
Thanks influencers for shilling it into supply, the confirmation triggered.
310-290$ bidding if reclaim. pic.twitter.com/45Yxh6tIEI
Despite lower wicks showing buying interest, bullish momentum remains weak. Uncertainty dominates, as traders await a decisive breakout or breakdown. The coming weeks will be crucial in determining the trend.
If bulls successfully push past $447, TAO could target $470-$530 in the short term. However, failure to hold above $350 might result in a deeper correction toward $250. Traders remain cautious, closely monitoring price reactions to these key levels.
Both Crypto Tony and StefanB emphasize the importance of upcoming price action. Market sentiment hinges on whether bulls can reclaim resistance or bears force a further decline. The next few trading sessions will provide clearer direction for Bittensor.
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