As an analyst, I’m currently tracking TAO, which is trading around $267. We’re looking at two potential paths for its price: a recovery back to $275, or a further decline towards previous lows around $143. The next few days will be crucial in determining which scenario plays out.
Bittensor’s TAO token is holding a fragile line.
Currently, TAO is trading at $266.97, according to CoinGecko. It’s seen a 1.88% increase in the last 24 hours, but is still down 12.32% over the past week.
Over the past week, the price fluctuated between $256.10 and $348.45. While there’s a small indication of a potential upward trend, the overall picture remains uncertain.
Related reading:
Why Is Bittensor (TAO) Price Dumping?
TAO Price Struggles Below the 200-Day Moving Average
Crypto analyst @2xnmore flagged the situation directly on X.
TAO is currently trading below its 200-day moving average, around $281. It recently reached a high of $390, but that was lower than its peak in November at $475. Selling pressure is increasing, and the current market signals are concerning.
The analyst identified two potential future scenarios, both of which are still likely. How the price behaves around important technical levels will largely determine which one plays out.
is at $261 right now.
The price is currently below its 200-day moving average. It recently made a lower high of $390, following a peak of $475 in November. Trading volume is significantly higher today.
Two scenarios are playing out from here. Only one wins.
Scenario one: This is the shakeout before the move. The 0.618…
— 2xnmore (@2xnmore)
CyrilXBT observed that TAO finished the day at $260, down 4.78%. He pointed out that the 200-day Exponential Moving Average at $275 is acting as a strong resistance level. He believes a significant increase in trading volume is needed for TAO to break above $275 before considering a buy opportunity.
Two Scenarios Playing Out for Bittensor
@2xnmore outlined the first scenario as a potential shakeout.
The price found strong support around $143 earlier this year, coinciding with a key Fibonacci level of 0.618. From that point, the price increased almost threefold.
If TAO stock price rises above $281 with strong trading volume, it could signal a positive trend. This potential shift is supported by increasing institutional investment in Bittensor and growing activity on the Chutes platform.
The dTAO narrative also remains intact, he noted.
Here’s another possibility: some investors, often called ‘smart money,’ may have driven the price up from $143 to $390 and are now selling their holdings to individual investors.
If the price falls below $261, he anticipates strong support around $200 to $220. If that level is also broken, it could lead to a further drop, potentially testing the low of $143.
He said the recent price action – a lower high following a failed attempt to break above the 200-day moving average – is a very clear sign that prices are likely to fall.
Key Support Zones Traders Are Watching
According to CyrilXBT, the price range between $200 and $240 is a key support level. This area has successfully prevented further price drops on multiple occasions earlier in the year.
TAO — $260
As a researcher, I’m observing that TAO is currently testing its 200-day Exponential Moving Average, which sits around $275, but it’s struggling to stay above it. Today’s trading session closed at $260, representing a roughly 4.78% decrease.
The price level between $200 and $240 is key support. If it falls below that, prices could drop significantly. This area has successfully prevented further declines on several occasions earlier this year.
If BTC loses the trendline,…
— CyrilXBT (@cyrilXBT)
However, he warned that if Bitcoin loses its trendline, TAO will likely test that range again.
Both analysts agree the $275 level is the immediate barrier.
For prices to potentially rise, we need to see a significant increase in trading volume. Without that increase, the current chart patterns suggest prices are more likely to fall.
People are still discussing the core ideas behind Bittensor’s subnet system. However, as @2xnmore pointed out, the recent price drop is the immediate issue.
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2026-04-12 15:01