Bittensor Price Nears Key Resistance — Why $360 Could Stall the TAO Rally
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The post Bittensor Price Nears Key Resistance — Why $360 Could Stall the TAO Rally appeared first on Coinpedia Fintech News Bittensor (TAO) price posted a strong move over the past few hours, climbing nearly 8% to test a key resistance near $350. However, sellers quickly stepped in, capping the rally and pulling the price back toward $335. While the structure remains clean and momentum appears strong, this is not a confirmed breakout—TAO is still testing a major supply zone, leaving the rally vulnerable. The key question now is whether bulls can sustain this momentum, as a move toward $400 hinges on a decisive break above this resistance. Open Interest Trend Signals Caution TAO’s Open Interest has surged sharply alongside the recent price rally, highlighting a strong influx of market participation. The metric climbed from roughly $150M to over $550M during the move, reflecting aggressive positioning as the price pushed higher. However, the trend did not sustain, with OI pulling back and stabilizing near $380M–$400M, even as price continues to hold elevated levels. This divergence is important. While the initial spike confirms strong interest, the decline suggests that positions are now being closed or unwound rather than added. In strong trends, a rising price is typically supported by rising OI. Here, the cooling OI indicates that the rally may have been driven by short covering and leveraged trades, not consistent spot demand. Unless Open Interest begins to expand again with price, the current move risks losing momentum near resistance. TAO Price Action Approaches Key Supply Zone Bittensor (TAO) has delivered a strong recovery, climbing from sub-$200 levels to now trade around $335–$340, reclaiming multiple key zones along the way. The price has formed a clear higher low–higher high structure, with consolidation bases around $260 and $300, indicating controlled accumulation rather…
Filed under: News - @ April 8, 2026 9:25 pm