TAO, the native token of the Bittensor network, is retesting a key support level near $230 after rallying from $186 to $275 in August. Analysts view this retest as a potential setup for a continuation toward $300 if buyers defend the zone. However, cooling technical indicators and weaker derivatives activity suggest consolidation. The Relative Strength Index sits at 51.03, while a bearish MACD crossover points to slowing momentum. Trading volume and open interest have both declined. Meanwhile, ecosystem project Beam marks six months on Bittensor’s mainnet, highlighting ongoing network development that could support TAO’s longer-term recovery.
TAO is currently testing the $230 support level after pulling back from its August rally. According to analyst Satoshi Flipper, this retest could present an opportunity for a bullish continuation if the level holds.
A successful defense of $230 would bring the recent high of $275 back into focus. If TAO breaks above that level, the next target could be $300.
Technical indicators point to a consolidation phase following the strong rebound. The 14-day relative strength index is at 51.03, indicating neutral momentum.
The Moving Average Convergence Divergence shows a bearish crossover, with the MACD line at 7.44 versus a signal line of 8.81 and a histogram of -1.36. This confirms short-term weakening momentum.
Derivatives activity has also cooled. Data from Coinglass shows 24-hour trading volume fell 4.03% to approximately $442.63 million, while open interest declined 1.5% to about $332.56 million.
These figures suggest reduced speculative activity during the market correction. Traders are waiting for clearer directional signals.
On the ecosystem front, Beam recently celebrated six months on the Bittensor mainnet. The project has built a global distributed data transportation network for bandwidth verification and large-scale data movement across regions and cloud systems.
Beam’s next phase focuses on adoption and deployment within enterprise workflows and AI ecosystems, with plans to scale to petabytes and eventually exabytes of data traffic.
TAO’s near-term direction hinges on the $230 level. A breakdown below this support would undermine the bullish structure and could lead to further consolidation.
