Covenant AI Exit Triggers Sharp $TAO Price Drop
- Covenant AI Exit: The abrupt departure of Covenant AI triggered a sharp decline in $TAO prices to $265, causing significant financial losses for holders and exposing vulnerabilities in Bittensor's critical subnet operations.
- Centralization Claims and Apology: Bittensor co-founder Jacob Steeves denied allegations of centralizing control and issued a personal apology to $TAO holders, emphasizing the deep personal impact of the crisis on him.
- Community Recovery Efforts: Community miners quickly organized to revive the affected subnets 3, 39, and 81 using open-source code, demonstrating resilience and collaboration within the community during the crisis.
- Locked Stake Proposal: Steeves proposed a Locked Stake upgrade that ties subnet control to time-locked $TAO, aiming to enhance transparency of team commitment and prevent future exits, reflecting a deep consideration for decentralized governance.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for AI
Technical Sentiment Analysis for Sleepless AI (AI). As of , Sleepless AI (AI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 4 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sleepless AI (AI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0146 | 0.0165 | 0.0183 | 0.0202 | 0.022 | 0.0239 | 0.0257 |
| Fibonacci | 0.0165 | 0.0179 | 0.0188 | 0.0202 | 0.0216 | 0.0225 | 0.0239 |
About AI
About the author
