Analyst Sells TAO at $290, But Bittensor Price Keeps Climbing – Did He Jump Too Soon?

Michaël van de Poppe just took profits on his TAO position. The popular analyst and trader shared the move on X, explaining that with markets waking up, it’s time to start actively trading the portfolio again.

But here’s the thing. TAO kept climbing after he sold.

The Trade

Van de Poppe posted that his altcoin portfolio is up from $35,000 to $45,000. Nowhere near full profits yet, but momentum is building. He called out his biggest bets: NEAR and TAO.

The AI <> Crypto narrative is one of the core angles of the upcoming markets,” he wrote.

Then came the kicker. He sold TAO at $290.

“This doesn’t mean that you shouldn’t be trading the markets at all, as currently, $TAO is up to $290…”

The implication is clear. He took profits, but the move isn’t over.

Van de Poppe isn’t alone here. One of CaptainAltcoin’s own analysts sold his TAO position at $250 on Friday. That was before the run to $260, then $270, then $280, and now $290.

Watching from the sidelines hurts. But in trading, you take profits when your strategy says so. You can’t predict the exact top.

TAO Chart Analysis

We had a look at the Bittensor chart, and TAO is showing clear strength.

Price Action

TAO bottomed around $170 in late February. Since then, it’s been a steady grind higher. The move accelerated in March, with price breaking through $200, then $220, then $250, and now testing $290.

The 200-day moving average sits at $285.8. The TAO price is now trading just above that at $289.3. Holding above the 200-day MA is a big deal. It signals the longer-term trend is turning bullish.

Support Levels

• Immediate support: $285.8 (the 200-day MA)
• Next support: $280 (psychological round number and previous resistance)
• Strong floor: $260 (recent consolidation zone)

Resistance Levels

• Current resistance: $289.4 (today’s high)
• Next target: $300 (psychological barrier)
• Extended target: $320 (next major level on the chart)

RSI Analysis

RSI(14) sits at 70.74. That’s just barely into overbought territory. Anything above 70 means the move got stretched, but it’s not extreme yet. The RSI has been climbing steadily from oversold levels in February, supporting the uptrend.

At 70.74, there’s room to run before hitting truly overheated levels like 85-90. But traders should watch for a potential cooling-off period.

Read also: Here’s the TAO Price If Bittensor’s AI Subnets Become the “Olympics of AI”

Short-Term TAO Price Prediction

Bullish Scenario (60% probability)

If the TAO price holds above the 200-day MA at $285.8, the next target is $300. Breaking that psychological level could trigger another leg up toward $320. Volume has been solid, and the AI narrative is heating up.

Bearish/Cooling Scenario (40% probability)

If $290 rejects price, expect a pullback to test $285 support. A deeper retrace could hit $280, which would be a healthy entry point for sidelined buyers. RSI at 70 suggests a pullback wouldn’t be surprising.

The Bigger Picture

Van de Poppe still believes in the AI narrative. He called NEAR and TAO his biggest bets. Taking profits at $290 doesn’t mean he’s bearish. It means he’s managing risk and locking in gains.

The CaptainAltcoin analyst who sold at $250 is feeling the pain right now. But TAO at $290 still looks strong. Holding above the 200-day MA, RSI at 70, and momentum building.

Did van de Poppe jump too soon? Maybe. But in a market that just woke up, taking some profits isn’t the worst move. There will be other entries if the pullback comes.

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The post Analyst Sells TAO at $290, But Bittensor Price Keeps Climbing – Did He Jump Too Soon? appeared first on CaptainAltcoin.