Bittensor (TAO) is seeing rising buyer demand as capital flows into the artificial intelligence crypto sector. On March 20, TAO traded near $282 after gaining 15% in 24 hours, according to CoinMarketCap data.
CryptoQuant data shows sustained spot accumulation since the $154 bottom. This suggests price may be catching up to underlying demand following consolidation.
TAO Price Structure Indicates a Long-Term Bull Trend
According to the 4-hour chart on TradingView, there is a clear bullish trend for TAO. Bittensor (TAO) is currently trading above the 50 EMA at $257 and the 200 EMA at $218, with both EMAs supporting the uptrend.
TAO is consistently creating higher lows and higher highs in terms of price action, and this signals a strong bull trend. Recent candle activity shows that the token is attempting to break the $300 level.
The current RSI value is approximately 55, and not in an extreme oversold condition. Hence, it is reasonable to anticipate additional price appreciation given the high demand.
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Data Indicates Continued Short-Term Spot Market Demand
CryptoQuant’s 90-day CVD (spot taker) shows a steady increase of green bars after the accumulation zone at $154. The green bars show that buyers are dominating the Bittensor (TAO) spot market.
The CVD represents the difference between spot buying and derivatives-driven buying. The gap between the CVD (spot taker) and the price being flat is an indicator that the token’s price is actually lower than its true demand.
Per CoinGlass, Bittensor (TAO) perpetual futures volume hit approximately $2.17 Billion in 24 hours. Open Interest also rose above 39% within the same timeframe.
Funding rates have been even (not long or short crowded) across all major platforms, including Binance and ByBit. This means there is a higher chance of the price moving significantly upwards.
With a balanced funding rate, there is likely to be a longer trend continuation without the risk of overheating.
AI Narrative Supports Growing Demand For TAO
There has been increasing investment in the artificial intelligence sector of the cryptocurrency market. Projects like RNDR and FET have seen benefits from this trend.
Bittensor is another important infrastructure project for decentralized machine learning networks. Therefore, Bittensor (TAO) is benefiting from the growing narrative of artificial intelligence, which will help drive capital inflows into TAO.
Bittensor appears to be aligned with both its technical structure and onchain demand, as well as the growing artificial intelligence narrative. If the current trends continue, Bittensor (TAO) may try to break out of the next resistance at $300.
Why Does This Matter
Strong spot demand and neutral funding suggest reduced downside risk while supporting continued upward momentum.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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