Bittensor (TAO) Loses Support: Are Traders Eyeing the Next Downside Levels?
Bittensor (TAO) is trading around $245.36, down 8.28% in 24 hours, with a daily trading volume of $349.48 million. Despite a 15.59% weekly gain, the price faces potential downside risks, with support near $239.46. A further drop could lead to a death cross, pushing prices below $232.19. A bullish reversal might test resistance at $253.74, possibly rising above $260 with a golden cross.
Technical indicators are mixed: MACD shows a bearish trend with a potential reversal attempt. The CMF at -0.09 indicates mild selling pressure, while the Bull Bear Power of -33.8 reflects strong bearish momentum. The RSI at 37.40 suggests bearish sentiment but not yet oversold. If it nears 30, a short bounce may occur. Overall, sellers currently dominate, but a bullish turnaround is possible if buying pressure increases.
TheNewsCrypto03/19 15:07