Bittensor is back in the spotlight after its latest breakout attempt didn’t quite stick. TAO price has slipped again, now hovering just above the $310 mark, a zone traders have been watching closely. The big question now is whether buyers can hold the line here or if the support is about to give way.
Since mid-June, TAO has been stuck in a pretty steady downtrend. It’s been making lower highs and lower lows, with the descending trendline still doing its job as resistance. The most recent rejection happened around June 30, just under $340.
After that failed move, Bittensor price fell back below the 50-period EMA, which is now acting as resistance around $333. At the moment, the token is trading at roughly $323, showing that sellers still have the upper hand. Until bulls can flip that trendline and reclaim the EMA, the broader trend remains bearish.
Demand Zone Under Pressure Again
The area between $295 and $310 has proven to be a key demand zone for TAO. A bounce from this level helped trigger a minor recovery in late June, but TAO price is now approaching this zone again. Chart projections suggest that a potential double bottom could form here, but repeated tests of support may weaken the level over time.
If the price breaks below $295, lower levels could come into focus. Conversely, a successful defense could open the door to a recovery move toward $340 or higher.
TAO Price Momentum and RSI Readings Lean Bearish
On the 4H chart, the RSI has dropped to 41.44 after sitting above 50 just a short while ago. That dip points to fading bullish momentum and increasing pressure from the sellers.
There’s also a clear bearish divergence between the rally on June 29 and how things closed on July 1, another red flag for the bulls.
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If buyers want to turn things around, they’ll need to push the price back above both the trendline and the 50 EMA. Without that, the selling pressure probably won’t let up anytime soon.
As TAO price consolidates above the $310 level, market participants are watching the demand zone closely. If TAO manages to hold this level and build a higher low, we could see a bounce back toward $340, maybe even a shot at $400. But if it loses this support, things could slip further.
The overall trend is still pointing down, so for any real shift to happen, the price needs to break above resistance and stay there. For now, all eyes are on that $295–$310 zone — it’s the one that really matters.
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