Bittensor (TAO) price signifies buying momentum and has persisted in increasing gains despite the market correction. Moreover, the token enlisted a rounding bottom pattern breakout above $400 and noted a sharp bull run in the past sessions. The price action reveals a higher high formation, and the follow-on buying momentum traps the sellers. Furthermore, the Bittensor (TAO) token price has reached the blue sky zone above $450 and is preparing to fetch $500.
The TAO token price is trading above the key moving averages and is sustaining gains in the bullish trajectory. Furthermore, the TAO crypto has witnessed a sharp rally from the bottom of $80 and rallied over 550% in recent sessions. However, the technicals seem overbought and may retrace to $450 soon. Furthermore, the buyers have persisted in stretching the up move and continued to showcase their dominance.
Bittensor token price was $486.78 at press time, with an intraday drop of 1.31%, showing bullishness on the charts. Moreover, the trading volume increased by 0.66% to $80.29 Million, highlighting the bull rally. The pair of TAO/BTC was noted at 0.0133 BTC, and the market cap is $3.01 Billion. Analysts are bullish and suggest that the TAO price will continue to extend gains and may surpass $500 soon.
The TAO Crypto Price on Daily Charts Displays Sharp Buying Momentum
The Bittensor (TAO) token price on the daily charts shows a bull run and is anticipated to reach $500 in the next sessions. The price action signifies a strong uptrend and the buyers have continued adding long positions. Furthermore, the token shows strong volume buying, which is a sign of investor interest. The token recently surpassed the neckline hurdle of $400. It sharply rose toward $450, delivering short covering moves.
The Relative Strength Index (RSI) curve stays in the overbought zone and shows a positive divergence, indicating the bullish momentum. The Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover and the green bars formed on the histogram suggest the outperformance for the following sessions.
The TAO Crypto on Weekly Charts Exhibits 52-Week High Range Breakout
On the weekly charts, the TAO token price exhibits a sharp move and has made a fresh all-time high mark above $480 in the last session. Moreover, the token glimpses strong buying momentum, and buyers are keen to reach the round mark of $500 soon. The token may extend bullish moves to $520 per the Fib extension zone, followed by $550 in the upcoming sessions.
Summary
The Bittensor (TAO) token price exhibited a bullish rally and enlisted a breakout above $400 in the recent sessions. The token glimpses bulls’ dominance and has persisted in extending the up move despite the weak global sentiments. If the token price surpasses $500, it may zoom to $550 soon.
Technical Levels
Support Levels: $460 and $430
Resistance Levels: $500 and $520
