{"id":25433,"date":"2026-04-09T00:10:47","date_gmt":"2026-04-09T00:10:47","guid":{"rendered":"https:\/\/bitunikey.com\/news\/will-bittensor-price-drop-to-297-as-double-rejection-at-descending-trendline-triggers-bearish-macd-crossover\/"},"modified":"2026-04-09T00:11:15","modified_gmt":"2026-04-09T00:11:15","slug":"will-bittensor-price-drop-to-297-as-double-rejection-at-descending-trendline-triggers-bearish-macd-crossover","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/will-bittensor-price-drop-to-297-as-double-rejection-at-descending-trendline-triggers-bearish-macd-crossover\/","title":{"rendered":"Will Bittensor price drop to $297 as double rejection at descending trendline triggers bearish MACD crossover?"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bittensor price is trading at $325.1, down 3.04% on the day, after rejecting a multi-month descending trendline for the second time in two weeks \u2014 and the daily MACD has now confirmed a bearish crossover that shifts the near-term bias toward the downside.<\/p>\n<div id=\"cn-block-summary-block_e4d56c8db97cbfc8c8e875492844fca6\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bittensor (TAO) is trading at $325.1, down 3.04% on the day, after rejecting a multi-month descending trendline twice near the $355 to $371 zone within two weeks.<\/li>\n<li>The daily MACD has confirmed a bearish crossover, with the MACD line at 19.6 crossing below the signal at 22.0 and the histogram printing at -2.4.<\/li>\n<li>Immediate support sits at $297.5, and a confirmed break below that level opens a path to the daily Supertrend at $263.7, while a daily close above $371 invalidates the bearish setup.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Bittensor (TAO) has produced two consecutive failures at the $355 to $371 resistance zone in the past two weeks, forming a lower high on the second attempt and reinforcing the strength of the descending trendline that has capped every recovery since November 2025.<\/p>\n<p>The first rejection came near $371 on March 25, following Bittensor\u2019s halving event and reports of Grayscale Investments raising its TAO weighting to 43.06% in its AI-focused fund. The second attempt reached $355 on April 7, produced a lower high, and reversed. Both rejection points are visible as circled pivots on the daily chart, and TAO has since retraced to $325.1 without recovering above either level.<\/p>\n<h1 class=\"wp-block-heading\"><strong>Double Rejection Flags Technical Weakness<\/strong><\/h1>\n<p>The daily MACD has confirmed the setup. The MACD line has crossed below the signal, reading 19.6 against a signal of 22.0, with the histogram at -2.4. Both lines remain above zero, which limits the severity of the crossover, but the signal confirms that momentum built during March\u2019s AI-sector rally is fading.<\/p>\n<figure class=\"wp-block-image size-full\"><\/figure>\n<p>On the 4H chart, the MACD remains technically bullish, with the MACD line at 6.8 above the signal at 5.8 and a histogram of 1.0. The 4H Supertrend at $313.8 continues to act as dynamic support. However, the 4H histogram has compressed sharply from earlier sessions, and a bearish crossover on that timeframe would add meaningful confluence with the daily signal.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Crypto analyst Micha\u00ebl van de Poppe stated on X that TAO is \u201capproaching one of those regions for dip buying in the coming weeks,\u201d framing the current pullback as \u201cjust normal price behavior\u201d following a triple-digit monthly rally. That view supports a base case in which $297.5 holds as a staging ground, not a breakdown level.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Key Levels and Price Targets<\/strong><\/h2>\n<p>Immediate support: the 4H Supertrend at $313.8, followed by the structural demand zone at $297.5, visible on both the 4H and daily charts and flagged as a key floor during the March accumulation phase.<\/p>\n<p>Extended downside target: $263.7, the daily Supertrend. Previous analysis flagged a potential corrective move toward $200 if the pattern repeats from prior golden-cross fractals, though that scenario requires a sustained close below $263.7 to come into scope.<\/p>\n<p>Bull case: a confirmed daily close above $371 invalidates the double rejection and opens the path toward $400. Bear case: a break below $297.5 targets $263.7. Invalidation: $371.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Derivatives and Institutional Context<\/strong><\/h2>\n<p><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\" target=\"_blank\" rel=\"nofollow\">Coinglass<\/a> data shows TAO open interest has declined alongside price in recent sessions, consistent with long-side deleveraging rather than aggressive fresh short positioning. That configuration reduces the probability of a sharp squeeze near current levels and suggests the next directional move is more likely to be supply-driven than forced.<\/p>\n<p>Grayscale has also filed with the SEC to convert its Bittensor Trust into a spot ETF and increased TAO\u2019s weighting to 43.06% in its AI fund, making it the fund\u2019s dominant holding. Neither development provides a near-term price floor, but both reduce the probability of a sustained breakdown below key support if broader risk appetite stabilises.<\/p>\n<p>If $297.5 holds on a daily close basis, the base case is a re-test of the $355 trendline. A confirmed break below $297.5 shifts the primary target to $263.7.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bittensor price is trading at $325.1, down 3.04% on the day, after rejecting a multi-month descending trendline for the second time in two weeks \u2014 and the daily MACD has&hellip;<\/p>\n","protected":false},"author":1,"featured_media":18162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/25433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=25433"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/25433\/revisions"}],"predecessor-version":[{"id":25434,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/25433\/revisions\/25434"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/18162"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=25433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=25433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=25433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}