- TAO maintains a bullish uptrend, currently trading at $438.77 with strong volume and market interest.
- Key resistance at $470 is within reach, with a potential breakout above $500 signaling a run toward new all-time highs.
- Momentum indicators show strength, though short-term consolidation may occur before the next upward move.
Bittensor (TAO) is gradually gaining momentum towards an important level of resistance. The recent price action for the asset is in the form of a disciplined and sustained uptrend, with periods of consolidation. As support for the broader market structure comes in above $400, the momentum indicators clearly remain intact. Momentum indicators, however, suggest short-run or cooling-off periods ahead of the next advance.
Currently, the price of TAO is trading at $438.77 with a 24-hour trading volume of $181.14M and a market cap of $3.89B. The TAO price in the past 24 hours is up 6.35%, while in the past week its price has suffered owing to volatility in the market and is slightly down 2.68%, albeit with high potential for the new and fresh breakout.
Source: CoinMarketCap
Bittensor (TAO) Gains Strength, Eyes $500 Breakout
A prominent crypto analyst, Poseidon, highlighted that Bittensor ($TAO) has risen in value by double in recent weeks, standing out among growing interest in blockchain projects. It is now getting close to an area known among traders as the red box, where momentum often fluctuates.
Now consolidating in the mid-range area, TAO is exhibiting the normal cooling after its quick advances. The market structure is still bullish, with increasing volume and sustained higher lows, although short-term correction might intervene before the next up leg.
Source: X
All eyes are now on the $500 level. A confirmed break above here could set the stage for an advance toward the high in the range above $800. The momentum remains in the favor of the bulls, particularly as the demand for decentralizing AI remains ongoing. If $500 is retaken with conviction, many believe $TAO will break into new growth, setting the stage for new all-time highs.
Moreover, another crypto analyst suggested that Bittensor (TAO) has now technically broken out of its downtrend, affirming new upward momentum and gathering both short-term trader and longer-term player interest. The successful breakout clears the path for the advance into the $470 level, the region of recent highs and volume. Market participants note that the trend shift is technically strong and supported by healthy volume.
Source: X
If current momentum continues, reclaiming $470 could be just the beginning of a much larger upward move in this cycle.
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