Bittensor’s TAO token surged 45% in 24 hours after bouncing off a key support zone between $211.7 and $215.4, with potential gains toward the $250-$270 region according to technical analysis. However, indicators remain bearish: the Money Flow Index (MFI) dropped to around 52.88 and the Funding Rate turned negative at -0.0006%, signaling insufficient demand to sustain the move. The spot netflow has turned positive at $24,520, indicating increased selling activity on exchanges. These bearish signals, combined with investors holding more short than long positions, significantly reduce the chances of the rally continuing.
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