Bittensor (TAO) crashed to $147, losing a major support level at $195. After the bulls failed to defend this support level, TAO crashed below its 9-month low. However, a crypto netizen figured out that TAO is, however, still onto the macro trend as its support is being tested.
From April 2025 until the beginning of November, the TAO prices were consolidating between $320 and $485. However, just a few days into November, the bears took control and started to crash the price. With the November crash, the TAO price crashed below both indicators, the 50-day moving average and the 200-day moving average.
Although the bulls had the prices moving sideways and, at one point, spiked the price above the 50-day moving average, the macro market conditions once again crashed the prices from January 2026.
TAO crashes below $195 major support level
Usually, the token defends the $195 support level, which is also the 9-month low. But this time around the bears were aggressively getting rid of risk assets as the market was uncertain. With the selling pressure getting heavier, the token crashed below the 9-month low of $195 and entered below $150.
Although it looks like TAO has lost all the steam and the only way it could go is down, there is still some hope on the horizon. It’s true that TAO lost the major support level at $195 and has crashed below its 9-month low, but it is still holding the macro trendline.
TAO test trendline from local high
As shown in the chart above, if the local swing high and the swing low are connected with a line, it could be seen that TAO is still holding its shape. The token is currently testing the trendline connecting the local highs and the lows. Priced at $147, TAO is oversold, as the Relative Strength Index indicator has moved below 30.
With an RSI value at 25, traders see this signal as a perfect buying opportunity to enter the market. Once traders see this opening and enter the market, TAO will be able to successfully defend the trendline.
