Bittensor (TAO) is trading at $421.32, reflecting a decline of 5.54%

Bittensor (TAO) is trading at $421.32, reflecting a decline of 5.54% in the last 24 hours. The broader technical trend remains bearish

Technical analysis on Bittensor (TAO) is indicating persistent selling pressure, pushing the token further into oversold territory. This analysis considers Bollinger Bands, EMAs, RSI, and MACD to assess the market trend and identify potential support and resistance levels.

Bittensor (TAO) Price Action: Is An Upトレンド Coming Soon?

Bittensor (TAO) is currently trading at $421.32, marking a 5.54% decline in the last 24 hours. The broader technical trend remains bearish, with price action consistently trading below short-term resistance levels. However, stepping back and looking at the larger time frame TAO is showing bullish price trajectory and significantly up by almost 75%.

Bollinger Bands on the 4-hour chart are highlighting the prevailing bearish trend. The lower band is providing support at $412.94, while the middle band, which is the 20-period simple moving average, is positioned at $437.58.

The price is currently closely following the lower Bollinger Band, indicating persistent downward pressure. The upper band at $462.21 caps potential upside and marks the next major resistance zone.

Relative Strength Index (RSI)

The RSI is lagging in oversold territory at 37.86, remaining below the neutral 50 mark. This level reflects weak buyer momentum and puts the asset close to the oversold threshold.

Crucially, RSI has been following a descending trendline, showing consistent rejection from lower highs over the past week.

Moving Average Convergence Divergence (MACD)

The MACD also aligns with the bearish outlook. The MACD line is at -2.70, while the signal line trails further at -3.67, maintaining a bearish crossover.

Although the histogram is showing some contraction, indicating a potential slowdown in selling, there is no confirmation of a reversal yet.

Key Resistance Levels (4-hour chart)

Key Support Levels (4-hour chart)

What To Expect Next

TAO is currently in a short-term downtrend, facing clear resistance at $428 and support near $412. A break above the 9 EMA could open the door for a recovery toward the $437–$440 range.

Until then, traders should remain cautious, especially if price fails to hold above the lower Bollinger Band. Keep an eye on RSI and MACD behavior over the next few sessions for early signs of a momentum shift.