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📉 Bittensor (TAO) Market Update
Bittensor is currently trading above the 200-day EMA at $361 as of Wednesday 🕐, after losing the $400 psychological support in a 5% drop on Tuesday.
⚠️ The overhead resistance at the 50% Fibonacci retracement level ($458) — drawn from the December 6 high of $748 to the April 7 low of $167 — triggered the recent pullback seen this week.
🧭 Key Levels to Watch:
🔹 Immediate Support: $361 (confluence of 50-day, 100-day & 200-day EMAs)
🔹 Next Support: $304 (23.6% Fibonacci level)
🔹 Resistance Zone: Around $458
If TAO slips below $361, the decline could deepen toward $304, but holding above this EMA cluster could signal strength for a rebound 📊
#Bittensor #TAO #CryptoAnalysis #TradingUpdate #Fibonacci #EMA