Just this week, the token pumped to a four-month high of $350, driven by growing subnet activity and the scarcity dynamics kicking in post-halving. However, not everyone is convinced the rally is on solid ground.

A critical report released on the same day claims the network’s high valuation is being supported by over $52 million in subsidies rather than revenue, sparking questions over whether the price can be sustained without constant incentives.

What the Bittensor Chart is Saying

We took a look at the chart of TAO and noticed that it is in a clear downtrend since the beginning of the year. The price was making new highs above $461, but it dropped all the way down to a low of $224 before rebounding back up into the $234 range.

The rebound is likely just a short-term relief move, but we can notice that the Bittensor price is still well below the previous highs.

The indicators back that up. The MACD is showing a bearish setup, with the DIF line sitting below the DEA line and both still in negative territory. That usually signals that downward momentum hasn’t fully faded yet.

Source: Coinank

The CCI (20) is at -105, which puts the asset in oversold territory, but that can sometimes mean a brief bounce before more downside.The volume, of course, has also been light, coming in at about 79,000 at this time. This would indicate that the recent move up is not supported by significant buying pressure.

In other words, the chart for Bittensor indicates a market that is looking for direction but hasn’t gained enough momentum to confirm a change in trend.

DeepSeek’s Price Targets for End of 2026

Taking all of this into account; the halving hype, the valuation concerns, the uncertain ETF outlook, and what the charts are showing, here are the price targets for Bittensor by the end of 2026.

The most likely scenario puts the TAO price between $400 and $550 by December. This assumes the subnet expansion is handled carefully and the ETF decision leans positive, but still leaves room for the underlying economic questions to linger.

_****This Rare Silver Signal Has One Message For Bitcoin In 2026: A Big Move Is Coming**

Source: Deepseek

If things go perfectly, ETF approval comes through, the subnet upgrade to 256 adds real value without diluting rewards, and institutional money starts flowing in, TAO could push toward the $600 to $700 range.

On the other hand, if the ETF gets delayed or shot down, and the network pushes its subnet expansion too fast without solid projects to back it up, the Bittensor price could slide back into the $250–$350 range.

In a tougher scenario, if the overall market turns ugly and valuation worries finally catch up, we could even see it dip toward $150–$200.

Right now, the momentum is on the upside, but there’s still a gap between the hype and what’s actually happening on the ground.

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