TAO is approaching a critical juncture in its price trajectory. Traders are closely watching the $266-$260 price range, an area that has consistently influenced the asset’s market movements. Elite analyst Crypto_Jobs shared insights on X (formerly Twitter), suggesting that while the current market mood remains pessimistic, underlying technical signals might indicate a potential trend change is brewing.
Looking at the 15-minute chart analysis, it reflects a sustained downtrend, with TAO price movement contained within a descending channel. Lower highs and lower lows confirm ongoing bearish momentum. However, the yellow support zone at $266–$260 is drawing attention, as it represents an area where buyers have previously stepped in. However, TAO price sits at $272.42 at publication.
If the support holds, the projected price movement suggests a potential recovery towards the $285-$290 resistance range. A breakout from the descending channel could see the price testing higher levels, possibly reaching $300 or more. Conversely, failure to hold above support could trigger further downside pressure.
What you'll learn 👉
TAO Weekly Chart and Key Resistance Levels
Looking at the weekly chart, Bittensor’s price has been declining steadily, with consistent red candles marking its path. The $260-$266 level has long been a support area, so this is a critical zone for potential stabilization.
On a rebound, investors might aim for resistance levels at $300-$320. However, technical tools like the Ichimoku Cloud still indicate bearish market conditions, which highlight the need for significant buying volume to confirm any potential reversal.
Read Also: Here’s Why the Crypto Market Is Crashing Today
Bittensor Price Market Outlook
Traders are observing for a breakout of the current downtrend channel. A move above $285-$290 may be seen as a change in sentiment, while failing to stay above $260 may trigger additional selling.
With bullish divergence indicators and strong support levels tested, the following trading sessions will be crucial. Investors will be watching whether TAO’s price will reverse its existing trend or proceed with its drop.
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