TAO Price Warning from Top Analyst: Mid $200s Incoming - Still Not Buying Bittensor

AltcoinSherpa is a crypto veteran. He has been through multiple cycles and built a reputation for calling trend changes before they happen. When he talks, traders listen.

TAO just had a monster run. The token rallied from $170 to over $370 in March. That is a 117 percent move in a few weeks. But now price has pulled back below $300 again. AltcoinSherpa shared a 4‑hour chart on April 4 and delivered a clear warning.

He said he has been watching TAO closely but is still not in a position. He called out the "tao retards" who chirp at him constantly. His honest take: with the way current price action looks, he would not be surprised to see mid $200s.

That means a drop to the $240–$260 range.

TAO Chart Analysis

The 4‑hour chart AltcoinSherpa posted shows TAO trading at $307.99 at the time. The price sits below both the 25‑period EMA ($308.40) and the 50‑period EMA ($308.99). Those two moving averages have flattened and are acting as immediate resistance.

Source: X/@AltcoinSherpa

The 100‑period EMA sits at $298.55. TAO is hovering just above it. A break below that level would open the door to the 200‑period EMA at $272.87, which is the next major support.

The chart also shows Fibonacci retracement levels from the recent swing high. The 0.382 level sits at $288.76. The 0.5 level would be near $280. The 0.618 level is $272. AltcoinSherpa's "mid $200s" warning aligns with these zones.

Volume is light. The chart shows only 522 TAO traded on that 4‑hour candle. Low volume on a pullback can mean indecision, but if sellers step in, the drop could accelerate.

He is not buying because the structure is not clear. TAO ran hard in March, but the current price action shows no confirmation of a new uptrend. The moving averages are flat. Price is stuck between support and resistance. A veteran trader waits for confirmation, not hope.

His warning is simple. The mid $200s are a real possibility. That would mean a 15‑20 percent drop from current levels. For anyone thinking of buying TAO here, his advice is to watch first. Let price show its hand. The chart is not screaming "buy" yet.