Bittensor's native token, TAO, is experiencing a significant downturn as market conditions turn bearish. According to the experts cited in the publication, the situation is becoming critical. The recent price drop highlights growing selling pressure and a lack of buyer interest.
TAO Token Price Decline
The TAO token has seen a decline of nearly 8%, currently trading at approximately $2.66. This drop of 7.88% indicates a broader trend of selling across the market, which has kept the asset below crucial moving averages.
Market Analysis and Technical Structure
The bearish technical structure suggests that the downward momentum may continue, with limited support from buyers. Investors are advised to monitor market conditions closely as the situation develops. The current trend raises concerns about the token's short-term performance.
As Bittensor's TAO token faces a significant downturn, PEPE Coin is also at a critical juncture, hovering near a pivotal support level. For more details, see the full article here.
