Bittensor (TAO) rebounded from $200 toward the 20-day EMA. The price displayed signs of recovery after the bulls established their presence near the demand zone.
Earlier, Bittensor had been on a free fall since the 1st week of June, crashing nearly 30% over the month and over 50% in the last three months. The weakness in the broader market made it worse as TAO suffered.
However, the broader market was recovering, which may help Bittensor price recover. Moreover, there has been a notable change in the development activity, which may affect the price.
Development Activity on the Rise
The recent sessions have experienced some recovery after a strong downtrend. The long-term trend outlook favored the bears at press time, which may make it difficult for the price to rise.
However, the preluding sentiment may change as there has been a notable development in few on-chain metrics. As per Santiment data, there has been a notable shift in the development activity curve.
The devel
We współpracy z: https://www.thecoinrepublic.com/2024/07/14/bittensor-tao-bounces-from-support-can-it-continue-to-rise/
