After plunging roughly 12% from $4.14T on October 10 to $3.65T on October 12 due to trade tensions triggered by Donald Trump’s announcement of 100% tariffs on China, the crypto market has rebounded to $3.92T at press time.
Bitcoin (BTC), which fell over 16% from $122,750 to $102,800, has recovered to above $116,000, finding local support around $110,000.
Ethereum (ETH), down more than 22% from its October 10 open of $4,370 to $3,400, is now trading at $4,242, with new support forming near $3,700.
However, the spotlight today belongs to Mantle (MNT) and Bittensor (TAO), both surging roughly 30% in the past 24 hours as buyers seize dip opportunities amid ongoing market tensions.
MNT Price Technical Analysis
Trade tensions pushed MNT from its October 10 range of $2.30–$2.40 to a low near $1.20. The sharp sell-off briefly breached the ascending trendline of the prevailing uptrend, but strong buying interest quickly pushed the price back above $2.
Despite the intraday dip to $1.20 on October 10, MNT closed the day above its long-term ascending trendline, indicating that the overall uptrend remains intact. This level also aligns closely with the 0.618 Fibonacci retracement (~$1.50), offering a strong confluence of technical support.
Local support is now established around $1.90–$2.00, coinciding with the 20-day SMA and the 0.382 Fibonacci retracement. On the upside, immediate resistance lies at $2.50, followed by the $2.70–$2.90 range, marking the recent swing high and a key breakout zone to watch.
TAO Price Technical Analysis
TAO experienced a sharp crash on October 10, hitting an intraday low of $140—a 60% drop from the day’s open at $347 and reflecting intraday volatility of 75%.
Despite the plunge, Bittensor managed to reclaim horizontal support near $290 by the day’s close. Following this rebound, the price surged, approaching the descending trendline resistance around $430. TAO is currently trading at $420, edging closer to that key resistance level.
A daily close above the descending trendline with follow-through could open the path to $460, the next resistance based on a prior trendline touch, and potentially $490, where the trendline began at the peak of the April–May rally.
