TAO price is starting to show some weakness after getting rejected at a key price level. Traders are beginning to shift their outlook, especially with the token stuck below a major support-turned-resistance zone.
In a recent post, crypto expert Sjuul summed it up by saying TAO “went from looking very good to looking way less good.” The message was clear: if the price doesn’t reclaim that level soon, it could be heading back down toward the demand zone.
Looking at the chart, Bittensor price has been pressing against this horizontal zone that has acted as both support and resistance in the past. So far, the token hasn’t been able to push through. That rejection is starting to signal seller strength, especially since this is the same area where the last bullish push lost steam.
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Source: X/Sjuul
The longer TAO price stays under that level, the more cautious traders become. Rejection candles are stacking up, and the price continues to form lower highs. That’s often a sign the trend is shifting. Buyers haven’t stepped in with enough momentum yet. If that doesn’t change soon, another drop could be on the way.
Demand Zone in Focus For Bittensor
A green box on the lower section of the chart marks the demand zone. This area served as the base for the last major bounce, attracting strong buying interest. Should the Bittensor price decline further, this zone is expected to act as the next area of interest for buyers.
Traders are now watching for a potential revisit to this zone. The current setup also includes a projected “W” pattern, which outlines a possible bounce scenario if price stabilizes within the demand area. This would signal that market participants are willing to accumulate again at lower levels.
Trader Outlook and Bittensor Price Scenarios
Sjuul noted that if TAO cannot reclaim the key support-resistance zone, a move toward the demand zone is likely. Market participants are monitoring two paths. A bullish reversal could begin if TAO price reclaims the current resistance and forms a higher high.
However, continued rejection may lead to a retest of lower levels. Consolidation between the two zones would likely result in sideways price action.
Finally, TAO remains in a decision zone where the next move will provide clarity on its short-term direction. Traders are watching closely.
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The post Bittensor (TAO) Price Struggles at Key Level – Is a Drop Into the Demand Zone Next? appeared first on CaptainAltcoin.
