Bittensor (TAO) remains on a downward trajectory, extending losses across multiple timeframes, following the market conditions in the crypto market. Over the past 24 hours, TAO has dropped by 5.88%, while weekly performance shows a deeper correction of 17.35%.

Currently, TAO is trading at $236.14, indicating a decline in participation by traders. Daily trading volume is $127.42 million, down 25.17% in the last day, and the market capitalization is currently standing at $2.5 billion, which is slightly down by 5.88%.

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TAO Price Structure Points to Key Zones

TAO remains in a clear daily downtrend after topping near the $520–$540 supply zone. Price continues to print lower highs and lower lows, respecting the descending trendline. The recent pullback confirms bearish control, with momentum favoring sellers unless structure changes above key resistance levels.

The area around $180-$230 is still considered to be a key area of demand and has already triggered a short-term rebound. However, the buying strength appears to be corrective at best. If prices break below $230 on a closing basis, a fall to $200 and then to $180 could be triggered, and even a drop to $160 in the event of increased selling interest.

On the positive side, the near-resistance level is between $270 and $285, and then there is a larger supply flip point between $310 and $330. If the price is able to stay above $330, the next set of targets will be $380 and $420. For an actual trend change, it will be necessary to breakout above the $400-$420 level, targeting above $520.

Technical Indicators Confirm Bearish Momentum

The RSI has dropped to 37, moving below the middle or neutral level of 50, indicating a weakening of bullish momentum. As it approaches the oversold region, there is also no sign of a bullish divergence, indicating that the selling momentum is strong and the possibility of a further decline is also on the cards.

The MACD has confirmed a bearish crossover, as the MACD line has crossed below the signal line, and the histogram bars have expanded into the negative zone. This occurs when the MACD line crosses below the zero line, and the crossover below the zero line confirms the signal, as opposed to a correction.

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