- Bittensor (TAO) is trading at $338.50, holding above key support between $336 and $340 despite a 3.45% dip
- A double bottom pattern is forming on the daily chart, suggesting a potential bullish reversal
- Selling pressure is fading while price action remains steady, indicating possible upside momentum
- A breakout above $351 could lead to targets at $363, $378, and $400 in the near term
Bittensor (TAO), the native token of the decentralized AI protocol, is currently trading at $338.50, showing a modest intraday dip of 3.45%. Despite recent downside movement, TAO is holding above a crucial support level between $336 and $340, a range that previously marked the base of a strong April rally.
This key technical floor is once again attracting buyer interest, hinting at a potential bullish reversal that could shift the market sentiment in favor of the bulls.
Bittensor TAO Eyes Bullish Breakout
On the daily chart Bittensor, TAO has been consolidating after a healthy correction from its May highs. Price structure shows the formation of a double bottom pattern, a classic bullish setup that often precedes strong upward moves.
The declining selling volume alongside flat price action suggests that bears may be exhausting their momentum, creating room for a bullish turnaround.
From a shorter-term perspective, the 4-hour chart TAO strengthens the bullish outlook. TAO is currently trading near key short-term moving averages, including the 9 EMA ($348.70) and 20 SMA ($351.31).
A clean breakout above these levels could trigger a strong upward leg toward the next resistance zones at $363, $378, and potentially $401. Price compression and the repeated defense of the lower range further indicate that a bullish breakout could be imminent.
If TAO successfully reclaims the $360–$365 resistance band, it could ignite a fresh rally targeting the $400 psychological level and beyond. With technical support intact and momentum indicators beginning to flatten, Bittensor (TAO) may soon enter a new phase of bullish continuation, especially if broader market conditions stabilize or improve.
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