Just been tracking the AI token sector and it's interesting how things have played out. According to CoinMarketCap, we saw that market cap jump from around 12.7B to 14.4B over the past month, which looked promising at first. But TAO's story is pretty telling here.

Remember that rally toward $200 back in early March? Didn't really stick. Now we're sitting at $250 and honestly, the technicals aren't that convincing. The funding rates stayed negative through most of March, and the spot CVD has been trending down. It's one of those situations where price moved but demand didn't follow.

TAO's been range-bound since mid-February between roughly $165 and $200, and even with the bounce to current levels, the momentum still feels weak. The OBV slipped below support, which signals selling pressure building. Meanwhile BTC has recovered to around $77.7K, but that hasn't really helped TAO break out convincingly.

Liquidation data shows traders are eyeing those $160 and $200 zones as key areas. If you're trading this, the range might still be your best play until something actually breaks. Short-term setup just doesn't look that bullish despite the sector's overall gains on CoinMarketCap.