$TAO held around the 250 level for a week, then a single bearish candle sliced right through it.
For the past 7 days, TAO had been stuck grinding back and forth between 251 and 257. A lot of people thought that was the bottom, but then Bitcoin dropped 4%, and TAO followed with an 8.5% decline, bottoming out at 220.2. It’s catching its breath around 231 now. $FET , in the same sector, is also down 10.8%—the AI sector is bleeding across the board.
I’m leaning bearish in the short term, for three reasons:
1️⃣ Futures open interest fell nearly 15% in 24 hours. That’s longs getting flushed out, not new money coming in to buy the dip;
2️⃣ The funding rate is still positive, and the long-to-short account ratio is 1.27. Retail traders are still buying the dip—they haven’t capitulated;
3️⃣ The former support at 250 has now become overhead resistance.
If it bounces to 245–250 without a surge in volume, I see that as an opportunity for trapped holders to get out at breakeven. If it breaks below the 220 low, the next move will depend on $BTC . If Bitcoin remains shaky, AI coins will struggle to move independently.
Do you think this TAO move is a shakeout or a breakdown? Raise your hand if you’re buying the dip 👇
#TAO #AI板块 #山寨币 #MarketAnalysis
For the past 7 days, TAO had been stuck grinding back and forth between 251 and 257. A lot of people thought that was the bottom, but then Bitcoin dropped 4%, and TAO followed with an 8.5% decline, bottoming out at 220.2. It’s catching its breath around 231 now. $FET , in the same sector, is also down 10.8%—the AI sector is bleeding across the board.
I’m leaning bearish in the short term, for three reasons:
1️⃣ Futures open interest fell nearly 15% in 24 hours. That’s longs getting flushed out, not new money coming in to buy the dip;
2️⃣ The funding rate is still positive, and the long-to-short account ratio is 1.27. Retail traders are still buying the dip—they haven’t capitulated;
3️⃣ The former support at 250 has now become overhead resistance.
If it bounces to 245–250 without a surge in volume, I see that as an opportunity for trapped holders to get out at breakeven. If it breaks below the 220 low, the next move will depend on $BTC . If Bitcoin remains shaky, AI coins will struggle to move independently.
Do you think this TAO move is a shakeout or a breakdown? Raise your hand if you’re buying the dip 👇
#TAO #AI板块 #山寨币 #MarketAnalysis