TAO crypto steadies near $250 after September rally fades

Bittensor’s TAO traded near $251 on October 27, after previously exceeding $320 in late September.

The token has recently been trading near $250, as buyers have struggled to maintain high levels and initiate a sustained recovery. The current pause places TAO at a significant juncture: it has stayed above recent lows, yet remains substantially below prices seen during September's upward movement.

TAO experienced a sharp ascent in September, moving from approximately the $220 price point to a high surpassing $320. However, this rally subsequently yielded to a decline throughout October. This pullback has brought the price back toward a zone where trading intensified during its earlier positive trend.

At the time of this report, the price was around $251.31, close to its longer-term average of about $251. Recent attempts to bounce above this average have been limited. On October 27, TAO hit a session low near $246.87 before recovering toward the $251 range.

Traders are observing the $245–$247 zone, where TAO has recently traded near its low points. Remaining above this range would enable buyers to build upon the latest rebound. An initial indication of improvement would be a return to the $255–$260 level.

Should TAO surpass that area, observers will watch to see if it can recover toward the $266–$270 range, where it traded before the latest downturn. Alternatively, the recent lows could break, drawing focus to an earlier trading area around $230–$240.

Grayscale’s filing on October 23 regarding the conversion of its existing Bittensor Trust into an ETF presents another factor for TAO holders and investors. This listing has not yet materialized due to outstanding requirements. Currently, the chart indicates the asset is holding near the $250 price zone following considerable decline, and traders await whether this pause leads to a recovery.