Bittensor (TAO) retests $200 after Upbit listing; $300 next target if $200 holds
Bittensor (TAO) spiked to intraday highs of $207 following Upbit’s announcement it would list TAO/KRW, TAO/BTC and TAO/USDT on Feb. 16, 2026. The listing drove a 51% rise in daily volume, but profit-taking pushed TAO back to about $179–$185, roughly 2% lower on the day. The token’s recent rally from ~$145 has been supported by a governance shift: Jacob Steeves (const) stepped down as CEO of the OpenTensor Foundation, moving the protocol toward a headless, more decentralised model. Institutional interest is also highlighted by a TAO ETP filing noted by Grayscale. Technicals on the daily chart give a mildly bullish signal (RSI, MACD); reclaiming $200 and breaking the descending channel could target the 50-day moving average and swing highs near $240, with $300 as a longer-term objective. Failure to hold $200 risks a retest of supports around $144. Key trading implications: expect elevated volatility around the Upbit liquidity event, watch $200 as the pivotal level for bullish continuation, and monitor volume and BTC’s broader trend for confirmation.
Bullish
The Upbit listing is a concrete liquidity and accessibility catalyst that produced an immediate volume spike and a price test of $200. Historical patterns show that major exchange listings (especially on large regional venues like Upbit) often produce short-term volatility and can sustain higher price discovery if volume holds. Fundamental drivers — governance decentralisation after Jacob Steeves’ exit and an ETP filing noted by Grayscale — increase institutional and retail interest, supporting medium-term demand. Technical indicators on the daily chart (RSI, MACD) are mildly bullish; reclaiming $200 would open targets at the 50-day MA and $240, with $300 as an extended target. Short-term risk remains: profit-taking and broader crypto weakness (BTC near $70k) could force a retest of $144. Traders should therefore treat $200 as the pivot: sustained volume and BTC strength point to a bullish continuation, while rejection at $200 increases downside risk. Similar past events: tokens listed on South Korean exchanges have seen rapid local demand and follow-through (often with pullbacks), so expect elevated volatility but a bullish tilt if on-book liquidity and institutional narratives persist.