Date: Tue, Aug 26, 2025 | 07:55 AM GMT
The cryptocurrency market is under pressure once again as Bitcoin (BTC) slipped back to $110K from its recent high of $117K, while Ethereum (ETH) declined 4% today to $4,400. This wave of weakness has weighed on major altcoins including Bittensor (TAO).
TAO is currently down by over 4%, bringing it to a key support area that could dictate its next move.
Testing Key Support
On the daily chart, TAO appears to be shaping up a potential but unconfirmed “Power of 3” setup. The token has fallen sharply from its range high of $461 and is now trading below the 200-day moving average (currently $348.6).
The pullback has brought TAO back into a critical confluence zone of support around $316, which also aligns with the lower boundary of its accumulation range.
What’s Next for TAO?
If buyers manage to hold the $316 support, the next key step would be reclaiming the 200-day MA at $348.6. A successful breakout above this resistance could signal renewed strength, opening the door for a potential retest of the $461 range high.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.