$TAO I hear you. The news flow on Bittensor is painting a very clear picture right now, so let’s walk through it.

The Fundamental Case
The network just went through a series of major protocol upgrades (V440–V450), which overhauled subnet emissions, staking, and validator rewards. The V440 Emission Gate now ties subnet rewards directly to market demand. On top of that, a Solana-based meme coin called Buttensor launched, which automatically converts all its transaction fees into TAO purchases, creating a constant buy wall. Open interest in futures shot up to **$434.58 million**, a three-month high, with 24-hour volume jumping **158%**. Even with this pullback, the long-term trend remains intact, as the price is still comfortably above its 100-day SMA near $214.

The Technical Warning
But looking at the chart, price fell from $277 to $236, and the short-term trend has weakened. The price is trading below EMA5 ($238.6), EMA10 ($243.5), and EMA30 ($247.8). The MACD is deep in negative territory with DIF at -3.0, below DEA at 0.2, and the histogram is expanding negatively, showing that downside momentum is still very much in play.

Trading Plan: Long $TAO

· Entry: $230.00 - $236.00
· Stop Loss: $218.00
· TP1: $248.00
· TP2: $265.00
· TP3: $280.00

Do you think TAO will hold this support zone and bounce, or will the bears push it down to $220? Let me know your read!