Bittensor (TAO) faces 25% downside risk as resistance holds, price targets $147

Price forecast: Downside scenario in focus

Analytics platform CoinCodex projects that TAO could decline by 25.02% within the next month, targeting $147.09 by the end of the 30-day period. The platform’s outlook suggests persistent short-term weakness for Bittensor unless bullish momentum returns quickly.

Should this scenario play out, TAO would fall well below both current market price and recent short-term support zones.

TAO risks a deeper pullback after failing to surpass key resistance. Unless buyers regain momentum quickly, a possible drop toward $147 may unfold, based on projections by CoinCodex.

Failed breakout prompts support retest

CryptoTXG, a market analyst, highlighted that TAO was rejected at the $214 resistance, stalling its breakout attempt. Following this rejection, the token’s decline halted before touching the $167.43 support level.

The analyst indicated $167.43 as a crucial level. Recovery above $214 remains critical for TAO to avoid further downside, according to CryptoTXG. If TAO fails to regain these levels, the risk of a renewed pullback increases.

Bittensor (TAO) operates as the utility token for a decentralized machine learning protocol, rewarding users for contributing computational resources and AI models.

Mini dictionary: Exponential moving average (EMA), a trend-following technical indicator that smooths price fluctuations, often used to gauge momentum and support/resistance zones in cryptocurrency trading.

Technical analysis: Indicators remain bearish

CoinGlass data shows TAO futures volume up 21.07% to $220.69 million, while open interest fell 9.80% to $255.48 million. The open interest weighted (OI-weighted) funding rate remained slightly positive at 0.0006%.

Rising trading volume alongside falling open interest signals heightened activity, but may also reflect short-covering or risk reduction under uncertain conditions.

Technical indicators on TradingView reveal that TAO trades below its main short-term exponential moving averages. The 20-day EMA stands at $200.30 and the 50-day EMA at $214.10, with current price levels trailing by $2.90 and $16.70, respectively. The 100-day and 200-day EMAs, at $229.10 and $247.60, continue to form a bullish ascending sequence, but both remain above the current spot price.

Bollinger Bands currently show the middle band at $200.50, the upper band at $214.80, and the lower band at $186.10. TAO trades $3.10 below the middle band and $11.30 above the lower band, while remaining $17.40 under the upper boundary.

Ongoing rejection near resistance and bearish technical alignment suggest TAO could face additional downside unless renewed buying pressure leads to a clear breakout above short-term averages.