Bittensor (TAO) Price Struggles But Analysts See Breakout Potential
Bittensor’s TAO has struggled to maintain momentum over the past month, recording a 12% decline in September and trading near $338 at the time of writing.
Despite a modest intraday rebound of over 4%, the token remains far below its July highs above $500, highlighting the pressure from persistent selling.
Technical Picture Shows Caution
On Binance, TAO has been consolidating after weeks of steady downtrend. The 1-hour chart shows RSI approaching overbought territory at 70, suggesting the latest bounce may soon face exhaustion.
Meanwhile, the MACD indicator is hovering close to the neutral line, showing only a slight bullish bias with limited momentum so far.
Market cap currently stands at $3.33 billion, ranking TAO as the 35th largest cryptocurrency. Despite the pullback, the project has maintained strong community interest, with nearly 270,000 watchers on CoinMarketCap.
Analyst Targets and Key Levels
Prominent analyst Michaël van de Poppe noted that TAO’s near-term trajectory depends on whether it can reclaim the 20-day EMA.
According to him, a successful break above this level could trigger a “strong move upwards” after more than a month of declines. He added that the token still has not come close to its $1,000 milestone, leaving significant upside potential if momentum turns in its favor.
For now, TAO trades in a tight range between $330 and $360. Failure to build momentum above resistance could send the token back toward its lower support area near $300, while a convincing breakout may open the path toward $470 in the medium term.
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Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
