The post Bittensor Price Breaks Key Resistance, Will Momentum Push It Past $394? appeared first on Coinpedia Fintech News
Bittensor has just captured the spotlight with a staggering 16.4% price surge over the last 24 hours, dwarfing the crypto market’s muted 0.08% uplift. As I scan the numbers, TAO’s one-day leap of 13.36% to $368.89 stands out against a $3.71 billion market cap and $228 million in trading volume. This move isn’t just a flash in the pan, it’s powered by a potent blend of fresh capital and sector-wide excitement.
Successively, the fuel has been coming from Yuma Asset Management’s fund launch. With the price punching through crucial resistance, and a technical breakout that’s been months in the making, TAO is suddenly the token to watch. Join me as I decode the potential Bittensor price targets for you in this write-up.
TAO Price Analysis
Bittensor’s 4-hour chart tells a story of renewed bullish conviction. After consolidating in a tight range, the TAO price exploded past key Fibonacci resistance levels, clearing $353.8 and stretching up to the day’s high at $377.8. The breakout is validated by volume that has soared to $228 million in 24 hours. The move above $353.8 flips a major resistance to support, underlining the strength of this rally.
Technical indicators are blaring bullish. The RSI sits at 74.81, showing powerful momentum but also warning near-term buyers not to chase. As overbought conditions can prompt quick corrections. The Bollinger Bands have widened sharply, and TAO’s candles have tested the upper band, signaling strong upward volatility. From a macro view, the market cap has shot up 13.6% in a day.
FAQs
TAO’s spike was driven by a $10 million institutional investment, a new fund launch by Yuma Asset Management, and a bullish technical breakout.
Key support is at $353.8, while resistance looms at $394.5. Overbought RSI signals caution near highs.
With institutional backing and a break above major resistance, TAO’s uptrend may continue, but monitor technicals for signs of a short-term pullback.