The article discusses the current price trend of Bittensor (TAO), a cryptocurrency with a market cap of $3.43 billion. The price of TAO has been struggling to find bullish support and has broken below the $500 mark. In the past 30 days, the token has experienced a 15% drop, and the article questions whether this downfall will result in a retest of the $400 level. The price trend is currently in a falling wedge pattern, and the token has dropped 25% in the past 9 days. The lack of demand for TAO has led to a "death cross" between the 50-day and 200-day moving averages, indicating a bearish trend. However, there is a possibility of a positive cycle within the wedge pattern, which could trigger a bullish reversal. Key resistance levels in a bullish scenario are at the 50% Fibonacci retracement level ($543) and the 78.6% Fibonacci level ($617). If the price falls further, the $400 level could provide strong support and potentially initiate a double-bottom reversal. The 4-hour Relative Strength Index (RSI) is showing bullish divergence, supporting the possibility of a rebound. Monitoring the $400 level is important for signs of a trend reversal.



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