According to foreign sources, the Bittensor token TAO has been under pressure for a period of seven days since it was blocked by a line of $285, and has gone out of the lower point at a time near $222, nearing the increase earlier this month. According to the article, the high value of the spot market and the high level of trading activity were important reasons for the continued decline.

The pressure continues when you break the average.

In terms of technology structure, TAO has fallen short and long-term averages. RSI also has an ecliptic intersection, which goes back to 44 and shows that short-line kinetic energy continues to be weak. Based on this, TAO is still in a weak zone, and the market has yet to show a clear sign of collapse.

The spot data points to the seller's lead.

AMBCrypto quoted CryptoQuant data stating that the increase in the average size of spot orders over the past week was an indication of the increased level of significant financial participation. However, this indicator cannot by itself distinguish directly between buying and selling.

More reflective of the direction is Spot Tucker CVD. This indicator continued to be negative during the same period, which meant that the active sale had always prevailed. In combination with large orders, the article argues that whales are more likely to be sold on a continuous basis than to be taken on low.

In addition, spot sales data show that since 14 June, sales have continued to be higher than purchases and that the trade gap has been negative for seven consecutive days, further suggesting that the spot market has not been reduced.

  • The price was blocked near $285.
  • The low point has fallen to $222.
  • Trade differentials, seven days running negative.

214 and 200 short-line.

According to the article, if current sales pressure continues, TAO may return to $214. Once this position has fallen, the market will pay further attention to the integer threshold of $200.

If $200 is lost, empty kinetic energy may continue to increase and prices are at risk of down-deepness of $185. On the contrary, it is only when the buyback picks up and pushes TAO back on the short-term EMA, at a price above US$ 248, that the weak structure may be broken, and the price will have an opportunity to explore the nearness of US$ 280 again.

Overall, the core judgement of this review is that TAO is not simply a technical response to the current downswing, and that the short-line movement remains weak because of the synchronizing of the sale of live plates with the whale trade.