Bittensor (TAO) has recovered from recent volatility, stabilizing after a sharp selloff and gradually regaining previous price levels. TAO is maintaining an uptrend above key moving averages, with strong support holding and resistance forming overhead, while derivative data point to a cautious approach. According to TradingView, TAO is trading at $313.59 with a 24-hour gain of 1.25%.
Source: CoinMarketCap
TAO Derivative Data Point to Decreasing Strength
According to Coinglass, the TAO open interest decreased by 1.69% to $416.65 million, indicating a slight reduction in outstanding derivative contracts, suggesting traders partially closed positions and overall market exposure eased modestly as sentiment turned more cautious.
Source: Coinglass
Volume decreased by 24.70% to $1.20 billion, reflecting reduced trading activity and lower participation levels as market momentum weakened, suggesting cautious behavior among traders and declining liquidity conditions.
Also Read: TAO Price Outlook Strengthens as Bulls Target $375–$485 Resistance Zone
Bittensor (TAO) Price Eyes Recovery With $524 in Focus
Furthermore, the crypto analyst Alex Clay revealed that Bittensor (TAO) is exhibiting an inverse head and shoulders pattern on its way to a significant crossroads, where the midline of the channel meets an important support-resistance level.
This pattern can be considered a bullish trend reversal signal, showing that the bears’ force is weakening as the bulls are building their power.
Source: Alex Clay’s X Post
If the TAO price confirms such a breakout would create the momentum for a bullish move, with $396.85 representing the first level of resistance, and $524.00 acting as the ultimate target for the TAO price.
However, confirmation is very important since if the resistance level is maintained and prices do not breakout, then the range trade will continue.
TAO Technical Indicators Point to Recovery Attempt
According to TradingView, the TAO price is showing strong signs of a recovery, with the token trading at $315.34. The TAO price has formed an obvious trend higher since reaching February lows and has successfully recovered all major exponential moving averages.
The current level of support lies at the $284.84 20-day EMA. The bulls’ target for TAO is the tough resistance level at $335.
Source: TradingView
The technical analysis is also supporting this positive trend. With the current RSI reading at 64.89, there is still a strong buying momentum while remaining below the overbought level of 70.
In the event that the TAO price breaks past the resistance level, the next target will be $375; however, a failure could result in a retest.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Bittensor (TAO) Price Update: Accumulation Phase Points Toward $750
