- TAO broke above the long-term bearish trendline near $350, signaling a potential shift in its price structure.
- After breaking $350, TAO is challenging the FVG resistance zone at $400–$430, a critical area to watch.
- The $270–$310 FVG demand zone is a key entry point, offering a potential “Golden Entry” if TAO holds support.
Bittensor (TAO) has now moved above the long-term bearish trendline, indicating a potential shift in the price structure. This breakout was established around the $350 level, and now the focus is shifted towards the other resistance levels. Crypto Patel suggested that there could be many more gains in the coming week.
After breaking out at around $350, TAO is in a position to challenge the FVG zone, which ranges from $400 to $430. This zone is relevant as it may serve both as a resistance level and support for further price fluctuations. Traders are now observing whether Bittensor can break past this resistance level or be pulled back.
Source: X
TAO’s Key Entry Point
Should the interest in the TAO diminish, the green FVG demand zone between $270 and $310 would be the perfect entry point. This level is regarded as the main level, and the price may climb back up to it and provide yet another “Golden Entry” for those willing to trade this setup. If the price holds and bounces from this zone, then it is evident that the bullish trend was not compromised.
As for now, the outlook for the market remains up as long as Bittensor stays above this particular level at $310. This price point is widely regarded as crucial for sustaining the upward progression. If TAO falls in this range, then it could indicate that the current trend is starting to collapse. Traders should be wary and closely monitor their risks during this volatile time.
The aspect of risk management is important to anybody who is planning to venture into the market of TAO. The user should wait for confirmation before undertaking any transaction. However, further confirmation that the index is still in a bullish mode is required to support the bullish outlook.
In the coming weeks, TAO could have a great possibility of rising if it manages to sustain the support levels that it has gained at present. Price is expected to skyrocket to $850 or even more, depending on the current trends. The following weeks will be decisive to identify whether Bittensor can keep these advances and drive to the higher prices area or not. As of press time, Bittensor is trading at $383.43, showing a 1.59% decline over the past day.
Source: TradingView
The confirmation of the breakout has made traders expect the next round of the price rally on TAO. The movement of prices in the following days will help the cryptocurrency hit other high points or correct its course.
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