Bittensor (TAO) experienced a sharp 7% price decline in the past 24 hours, marking its fourth consecutive day of losses since Monday. The altcoin’s Open Interest has fallen 14.3%, while spot demand has also weakened, raising the possibility of a fifth straight day of losses. This downturn follows TAO’s recent failure to breach the $300 psychological resistance level after reaching a three-month high of $277. Technical indicators on the weekly chart show the asset remains within a bearish structure, with the Relative Strength Index (RSI) at a neutral 49 and the On-Balance Volume (OBV) in a steady downtrend since October.
Bittensor [TAO] was among the altcoins that experienced a significant drawdown in the past 24 hours. Down nearly 7%, TAO has recorded daily losses since Monday, the 7th of September.
The Open Interest declined 14.3% in 24 hours, and the spot CVD has also been falling since Monday. The indicators showed a lack of spot and derivatives demand, and if this trend continues, TAO could see five consecutive days of losses. This losing streak came after the altcoin reached a three-month high of $277 following its listing on Raydium.
In April 2025, the Bittensor weekly chart recorded a swing low at $167.8. In February 2026, this level was breached by a weekly candle close at $163.2, confirming a bearish swing structure. The weekly timeframe RSI was at a neutral 49, but the OBV has been in a steady downtrend since October, reflecting bear market conditions.
Despite the recent rally from below $200 to nearly $280, the price structure remained bearish. The $291.6 high from June looms just below an important supply zone at $300. To overcome these resistance levels, Bittensor needs aggressive, sustained demand. As stated, swing traders can wait for a price dip to $190 to buy the altcoin.
