Binance Japan has listed Bittensor (TAO) on their exchange, allowing users to trade TAO/JPY and TAO/BTC pairs starting at 17:00 JST. The exchange is also promoting a 30-day zero maker fee for the TAO/JPY pair. This approval on the highly regulated market in Japan represents an important regulatory hurdle for decentralized artificial intelligence tokens worldwide.
In addition to the standard exchange addition, the inclusion provides institutional levels of liquidity in a G7 economy for decentralized machine intelligence. The direct yen market reduces barriers for domestic capital, opening up TAO ownership participation. This is a reflection of the growing acceptance of the decentralized AI sector within the global digital market.
Also Read: Bittensor Price Rises as TAO Targets $315 Following Strong Technical Signals
TAO Turns Bullish After Sharp V-Shaped Recovery
However, the crypto analyst, Alex Clay, highlighted that TAO is now experiencing new market interest as it has printed out a V-shaped recovery below a key level of support. There was a brief break that caused concern among market players, but the market absorbed the buying interest rapidly. This can be seen as a liquidity sweep, as the market recovered rapidly from the break, strengthening the short-term upward trend in today’s global trading activity.
Source: X
Now, there appears to be some support for momentum building; market traders are now speculating on the continuation of the token to retake other price levels. For positive market conditions to continue, the first target mark will be set at $412, and then the next level will be centered around the price of $467. Consistent trading activity and clear market patterns will be crucial to confirm further price growth in the short to mid-term for the participants.
Momentum Indicators Shows Early Signs of Strength
Technically, price action on the chart is dominated by a medium-term downward trend, followed by a bounce up from the trough. Price reached a high of approximately 500 in early November and then started falling consistently, reaching a low around 220-230 in December. However, the subsequent bounce is accompanied by current price stagnation near the resistance level of 280. This area previously acted as support and now limits momentum.
Source: TradingView
The momentum indicators suggest a sense of recovery, though lacking confirmation. RSI is above 50, indicating that there is improvement in bullish momentum, though it is still weaker compared to previous levels. It is also indicated that the moving average is struggling to regain momentum. A bullish crossover is seen in the MACD, along with a positive histogram, indicating that there is momentum in the positive direction, though a breakout is less likely.
Also Read: Bittensor Price Prediction: Is a Rally Toward $300 on the Horizon?
