🚨🔍 Bittensor (TAO) Price Analysis 📊
Bittensor (TAO) faced a correction after briefly surpassing $650 over the weekend, with sellers stepping in as it approached the overbought zone on the RSI. After rebounding from the 20-day SMA on Friday, TAO surged by 10.58%, hitting a high of $643 and settling at $622. The bullish momentum carried into Saturday as TAO touched $682, before closing above $650 at $656.
However, TAO struggled to maintain this level on Sunday, dropping by 2.29% to $641. Monday saw a recovery attempt, with TAO reaching a high of $678, but sellers quickly took over, pulling the price back below $650 to $632. The bearish sentiment persisted on Tuesday, with TAO slipping by 5.48%, dropping below $600 to settle at $597.
Currently, TAO has found support at the 20-day SMA, up 1.26% as buyers aim to push back toward the $650 level. If the bullish momentum continues, we could see TAO test $650 again. However, a break below $600 could see further downside pressure.
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