Bittensor (TAO) fell by 2.08% over the last 24 hours, with the altcoin trading at $191.29 at press time. In fact, it appeared to be underperforming a largely flat crypto market.
The decline came as investors pulled capital from altcoins, with broader market sentiment outweighing recent positive ecosystem developments. TAO’s price charts indicated sellers could remain in control in the near term.
TAO tests key support on the daily chart
TAO’s daily chart highlighted the token testing a key support level around $184, which has held since early March 2026. A decisive break below this level would confirm the prevailing bearish structure and increase the likelihood of further downside.
Momentum indicators also continued to favor sellers at the time of writing.
On the daily chart, the Relative Strength Index (RSI) remained below the neutral 50 level in the low 40s, while the On-Balance Volume (OBV) indicator stayed largely flat. This suggested that buying pressure was weak.
Are buyers losing momentum?
TAO’s four-hour chart reinforced the same outlook. Although TAO attempted to reclaim resistance near $201, buyers lacked the momentum to sustain a breakout.
Both the RSI and OBV mirrored the weakness seen on the daily timeframe. This implied that bullish conviction was limited. Hence, the token could be under pressure until market sentiment improves.
Final Summary
- While TAO managed to break the $201-resistance and hit $350 in March 2026, it has since resumed its higher timeframe downtrend.
- TAO has been stuck consolidating between the $184-$200 range for the last two weeks.
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