Bittensor Price Plummets 10% – Will $340 Support Hold or Collapse?

Bittensor price chart showing sharp decline and critical support levels

Bittensor (TAO) has plunged 10% in a single day, breaking below its crucial $360–$370 support zone. Traders are now eyeing $340 as the next make-or-break level. Will this altcoin recover or face deeper losses? Here’s what you need to know.

Why Did Bittensor Price Crash?

The Bittensor price drop follows a breakdown of the key Fibonacci support between $360 and $370. Analysts highlight three critical factors:

  • Loss of Fibonacci Support: The 0.618 retracement level at $353 failed to hold, intensifying bearish pressure.
  • Broader Market Weakness: Bitcoin and Ethereum declines have amplified TAO’s volatility.
  • No Immediate Catalysts: No major project updates or macroeconomic triggers explain the drop.

Key Bittensor Support Levels to Watch

Traders are closely monitoring these levels:

Level Price Significance
Immediate Support $340 Psychological and technical barrier
Next Support $323 0.79 Fibonacci retracement
Critical Floor $285 1.0 Full retracement

Can Bittensor Recover?

A bounce above $360–$370 could reignite bullish momentum, targeting $440–$460. However, sellers dominate until TAO reclaims this zone. Trading volume remains stable at $266 million, suggesting ongoing interest despite the drop.

FAQs: Bittensor Price Drop

1. Why did Bittensor fall 10%?
TAO broke its $360–$370 Fibonacci support, triggering automated sell-offs amid broader crypto market weakness.

2. What’s the next support for Bittensor?
$340 is the immediate level, followed by $323 and $285 if selling continues.

3. Could TAO rebound soon?
Yes, if it reclaims $360–$370, a rally toward $440–$460 is possible.

4. Is trading volume affected?
No, 24-hour volume holds at $266 million, indicating sustained market participation.

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