Bittensor’s 60% Drop: Will it Rise or Keep Plummeting? Discover Now!

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Key Takeaways

Why is Bittensor likely to bounce soon?

Well, folks, it’s teetering on a major technical and psychological support level at $300-one that’s been stubbornly defended since June. Almost like that one relative who refuses to leave your house, no matter how many times you hint it’s time to go.

Shouldn’t traders be wary of buying, given the current market conditions?

Of course, they should! But here’s the kicker: the long-term range low retest is a low-risk, high-reward setup. Think of it as a ‘don’t touch that dial’ moment, but with clear levels of invalidation at $288 and $275-the so-called local supports that say “We’re not going lower. At least not yet.”

As Bittensor [TAO] continues its downward slide, you might wonder if it’s just taking a breather or if it’s circling the drain. Over the past week, TAO has lost 14.8%-not quite the free fall of Bitcoin’s 13.05%, but impressive nonetheless. The volatility surrounding Bittensor is like watching a high-speed chase-you never know what’s going to happen next.

Since June, TAO has been stuck in a range between $294 and $470. Fast forward to November, and it broke out of that range, soaring to $539, only to tumble back down with a vengeance, shedding 41% in a matter of weeks.

Now, here’s where it gets really fun. From its all-time high, TAO’s price has dipped almost 60%, and the slide may not be over. But hey, on the bright side, that $300 level is like a comfy old couch-it’s been the go-to support for months now.

Oh, and did we mention the core developers jumped ship in July and August? The numbers haven’t bounced back. Not exactly a confidence booster for the long-term HODLers out there, huh?

Can TAO bulls defend the range lows?

From a purely technical standpoint, now might be a decent time to buy. The price is flirting with that $300 demand zone-a level that’s been hanging tough since June. You could say it’s like an old friend who always answers the phone no matter how late it is.

During the retracement from the recent $539 high, the trading volume has been dwindling, which suggests that the sellers may be running out of steam. Bulls and bears could very well reach some kind of uneasy truce at these range lows, with a few days of consolidation leading to another rally attempt. But-spoiler alert-demand needs to pick up for this to happen. If Bitcoin gets a bounce, that could swing the altcoin sentiment into a frenzy.

The liquidation heatmap shows a nice little liquidity cluster hovering between $291-$302. If you’re a trader, this is the zone to watch like a hawk. No significant deviation beneath these lows is expected-so you’re not likely to see a massive plunge before a potential bounce. Think of it like a trampoline, but with a bit more risk.

For the bullish swing traders, the invalidation point is $275. Keep an eye on the $288-$302 area for support, and aim for price targets of $383 and $471-the mid-range and high-range resistances. It’s all about navigating the highs and lows like a pro. 😎

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2025-11-19 04:12