Bittensor’s TAO traded around $251 on October 27, after falling from above $320 in late September. The token has spent recent sessions close to $250, with buyers struggling to hold on to the high levels and build a lasting recovery.
The latest pause it is seeing leaves it at an important point: it has held above its recent lows, but remains well below the prices reached during September’s rally.
A September rally gives way to losses
TAO saw a sharp climb in September, rising from around the $220 price level to a high above the $320 price level. But the rally gave way to a decline through October.
That retreat has brought it back toward an area where trading picked up during the times it saw a positive trend earlier in the advance. At the time of this writing, it was around $251.31, close to its longer-term average price of around $251.
It has not been able to bounce above it recently, and its attempts have been limited. It reached a session low near the $246.87 price level on October 27, but then it recovered toward the $251 price range.
Can TAO hold its recent lows?
The immediate area to watch is the $245–$247 area, where TAO has recently traded near its lows. Staying above that range would allow buyers to build on the latest bounce it saw.
A return to the $255–$260 price level would be an initial sign of improvement. If TAO moves beyond that area, traders will be looking to know whether it can recover toward the $266–$270 area, where it traded before the latest leg down.
The other possibility is that the recent lows give way. If this happens, an earlier trading area around the $230–$240 price area would come into focus. Past trading there does not guarantee that buyers will return at the same prices.
Grayscale’s October 23 filing to convert its existing Bittensor Trust into an ETF gives TAO holders and investors another thing to look out for. The listing has not happened yet because some outstanding requirements remain.
For now, the chart shows it holding near the $250 price area after it saw a lot of decline. Traders are waiting to see whether that pause develops into a recovery.
Final Summary
- TAO traded around $251 after falling from above $320 in late September.
- Recent lows near $245–$247 are the immediate area to watch.
