CandleFocus Bittensor (TAO) Price May Tumble Below $500 Amid Growing Bearish Pressure
2024-10-17
Author: Content Editor
The price of Bittensor (TAO) has declined by 6% in the past 24 hours, dropping below the $600 threshold. Based on analysis, the altcoin may continue to decrease and potentially break below $500. The Weighted Sentiment for TAO has fallen into the negative region, indicating a bearish outlook and potential decline in demand. The 20-day Exponential Moving Average (EMA) and Moving Average Convergence Divergence (MACD) also suggest a bearish trend for TAO. If TAO drops below the 20 EMA again, it could face a double-digit correction. The MACD shows that sellers are in control, reinforcing the bearish sentiment. However, if the altcoin can maintain support, it may have the potential to bounce back and reach $648.99.
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