- Tao broke under the support levels of $ 434 and $ 354 and could be lower in the coming weeks.
- The liquidation heat showed that a bounce was probably up to $ 390.
Bittersor [TAO] Bulls were forced to admit the $ 440-$ 480 support zone in the past month of trade. Ten days ago it was re -tested as a resistance, and since those local highlights Tao has dropped 26.7%.
Tao’s Volatility has been picked up as Bitcoin for the past two weeks [BTC] continued to act within a range around $ 100k Mark.
The lack of bullish conviction about the Altcoin room met Tao and the momentum has been Bearish since December.
Tao fell under $ 354, but quickly bumped higher
Source: Tao/USDT on TradingView
The Bollinger tires are relatively wide since the second half of November.
This meant raised volatility on the daily graph, and the Tao price movements have since been fast and sharp compared to Augustus, for example.
The upright trend that was determined in November was not maintained and Tao has turned its market structure into it.
In January the Bulls also issued the support level of $ 434, an important level of the weekly period.
The levels of $ 354 and $ 216 were the following important levels. At the time of the press, Tao had already closed a daily session under $ 354, but was bumped from the local lows by 14%.
This was not indicative of recovery, but rather a shallow strout for the next stage of the downward trend.
The ATR agreed with the BB indicator and showed increased volatility, especially in the past week. The sales pressure and the bearish structure pointed to further lows.
Read Bittensor’s [TAO] Price forecast 2025-26
The 1-month liquidation heat showed a cluster of short liquidations that were built around the $ 380- $ 400 region. This coincided with the local highlights that Tao achieved during the Dead Cat bounced on Monday on 3 February.
The lack of question and the overall bearish structure meant that a rejection of the $ 400 resistance zone was probably. Swing traders can wait for the test of Bittensor of that region before they fail.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
