🚨 Bittensor (TAO) Price Analysis: Bearish Trend with Potential Support at $400 🚨
💥 Recent Decline Overview
Bittensor (TAO) reached a peak of $748, but the price has sharply declined since:
📉 Price Drop: Dropped to $562, showing a strong bearish shift.
🔻 Weekend Struggles: Settled at $561 after a near 3% drop, followed by a small recovery (+2.24%) to end at $573.
🔍 Key Price Movements
📉 Bearish Start: Fell 6%, dropping below the 50-day SMA and key $550 support, settling at $518.
⚠️ Continued Decline: Further losses (-4.17% and -3.59%), slipping below $500, and closing at $499.
🚨 Sharp Drop: A massive drop of 10% to $447, with a brief recovery attempt, reaching $469.
🔻 Current Struggles: Currently down almost 3%, trading around $433, with sellers still in control.
🔮 Current Outlook
🔽 Bearish Sentiment: TAO continues to face heavy downward pressure.
💡 Support at $400: $400 may be the next key support level if selling pressure persists.
⚡ What’s Next for TAO?
💥 Critical Support Level at $400: The asset faces a potential rebound or continued decline depending on market sentiment.
🔮 Will Buyers Fight Back?: Will buyers push TAO above $450, or will sellers drive the price further down? Stay tuned!
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