The post TAO crypto faces 11% dip, consolidates below $500 – What now? appeared on BitcoinEthereumNews.com.

Key Takeaways TAO has a strongly bullish structure on both the daily and weekly timeframe price charts, but this has not translated into a breakout past the $500 resistance.  Bittensor [TAO] continued to trade below the long-term resistance at $500, despite the 35% rally the altcoin has made in the past three weeks. A bearish divergence between the price action and the momentum of the asset saw an 11% price reset. In the lower timeframes, TAO appeared to be consolidating. Over the weekend, the price action has been restricted from $425-$435. Bitcoin [BTC] saw a 0.65% price dip on the 28th of July, which did not help Bittensor bulls. Mapping the course ahead for TAO Source: TAO/USDT on TradingView Investors and traders can take heart in the fact that the weekly and daily swing structures were both bullish. June’s high of $443 was surpassed earlier in July. This has set the token up for a rally to the local high at $489. Before this rally could complete, the MFI made a lower high while the price made a higher high. Marked in orange, this bearish divergence was followed by a price dip to reset the $400 support zone. The CMF continued to move above the +0.05 level, showing sizeable buying pressure. Overall, after the retest of $400, Bittensor would likely be ready to go higher still. A drop below $400 was not expected in the coming days. Source: Coinglass The liquidation heatmap also highlighted the $400 level as a notable magnetic zone. In the event of a price drop, a bullish reversal would occur from the $392-$400 area. In the short-term, the $420 and $442 levels are also ones to watch out for. The price could meander between these two levels over the next few days, consolidating and building up…

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Filed under: News - @ July 29, 2025 3:27 am