#Bittensor $TAO is pushing back toward the top of its range; currently trading around $197, with a 4H MACD printing against the signal line and an RSI that sits at 58.93, $TAO has confirmed it is experiencing a bounce. But this isn’t the first time the $TAO chart is looking this way, so this time, can it sustain?

$TAO spent late July grinding lower, dropping from the mid-$210s down toward $184 as sellers controlled every bounce, but broke out in the final days of July, and price has spent the last two weeks consolidating in a $188 to $200 range, building a base after the trend change.

The move off Monday's low near $188 has been the sharpest push of that consolidation, with $TAO clearing $195 and tagging $198.32 intraday before settling near $197.56. That puts price right back at the range high, and a clean close above $200 would confirm the range is resolving upward rather than rolling over again.

The fundamental backdrop is picking up too. AEON announced on August 5 that it now supports Bittensor and TAO, giving the token a stated path into AI-native payments and autonomous commerce across a claimed merchant network of more than 50 million locations.

The bull case scenario for $TAO is to closes above $200 on strong volume, completing the reversal out of the July downtrend and opening room back toward the $208-$212 zone that capped price before it broke down.

However, another rejection of $198-$200 may send the price back to retest the $192 support that's held the recent range or lower if sellers persist.