The TAO token is experiencing selling pressure after dropping below an important support level. Meanwhile, Sturdy's infrastructure is demonstrating growing user interest.
Current Situation with TAO Price
Bittensor's token, TAO, is facing selling pressure after failing to hold above the $360 mark. Currently, the price is at $368.49, reflecting a 7.72% decrease in the last 24 hours. The $360 level has historically served as both support and resistance.
Short-Term Bearish Trend
The recent bearish trend has emerged as the price fell from a recent local high of $394.75. This decline indicates increasing selling pressure. Analyst CryptoTony highlighted that 'bulls want to hold $360 today.' A failure to maintain this level may lead to a retest of the next support near $220.
Sturdy’s Success and Growing Faith in DeFAI
Despite TAO's price instability, its ecosystem is continuing to develop. Sturdy Finance's SN10 subnet, built on TAO, has recorded over $277.6 million in total volume allocation, showing steady user interest in AI-managed DeFi systems.
The current price dynamics of TAO underscore the importance of the $360 level for avoiding further declines. Meanwhile, Sturdy's subnet is showing increased activity that could support the token's long-term stability.
