TAO Price at $261: Shakeout Before the Rally or the Start of a Deeper Decline?
The post TAO Price at $261: Shakeout Before the Rally or the Start of a Deeper Decline? appeared on BitcoinEthereumNews.com.
TLDR: TAO is trading at $261, below the critical 200-day moving average resistance level near $281. A lower high at $390 after November’s $475 peak signals a potential bearish distribution phase. The $143 Fibonacci support held earlier in 2025, producing a near tripling of TAO’s price value. Real subnet usage and institutional interest in Bittensor keep the bullish fundamental case alive. Bittensor’s TAO token is navigating a pivotal technical crossroads at $261, drawing sharp attention from traders and analysts. The asset sits below its 200-day moving average while red volume spikes signal rising selling pressure. A lower high at $390 following November’s $475 peak adds to growing concern. Yet strong subnet fundamentals continue to challenge the purely bearish reading of the chart. TAO Bears Point to Distribution Pattern After Lower High The March lower high has become the central talking point among TAO watchers. Price ran from the $143 Fibonacci floor to $390, a move that nearly tripled in value. However, that rally failed to reclaim the 200-day moving average sitting near $281. That failure now stands as a textbook warning signal for trend traders. Analyst @2xnmore laid out the concern plainly, stating that “a lower high after a failed 200 MA reclaim is one of the cleanest bearish signals in technical analysis.” $TAO is at $261 right now. Below the 200 day moving average. Fresh off a lower high at $390 after the November peak at $475. Volume spiking red today. Two scenarios are playing out from here. Only one wins. Scenario one: This is the shakeout before the move. The 0.618… pic.twitter.com/qfr7h6HC4r — 2xnmore (@2xnmore) April 12, 2026 That pattern, combined with today’s volume spike to the downside, raises valid questions about who is actually selling. Distribution phases often look exactly like this before price rolls over completely.…
Filed under: News - @ April 12, 2026 10:24 pm