Analysts Predict Big Moves for Bittensor (TAO) as Price Tests $400 Zone – Here’s the Outlook
TAO’s price is doing well today and has seen a 9.78% over the last day. However, Bittensor’s price activity has caught the attention of analysts and traders, with its current position near the $400 zone sparking predictions of key market movement. Several upcoming catalysts for TAO, specifically its dynamic dTAO upgrade, have created speculation around its price trajectory in the coming weeks.
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Bittnesor Price Chart Analysis: Consolidation and Key Levels
TAO is trading near a critical support level of $362-$400, where buying pressure has consistently emerged. Analyst ML notes a consolidation phase in recent price movements, with lower highs and lows marking a short-term downtrend since mid-December. Despite this, the level near $400 is being monitored as a potential reversal zone.
Resistance has been observed around the $600-$650 range, where the price faced multiple rejections in December. Traders are awaiting confirmation of a breakout above $412.8, which could signal a potential trend shift. Historical volatility in TAO’s price, including rapid movements in October, reflects the asset’s sensitivity to external developments.
dTAO Upgrade Timeline Fuels Market Anticipation
The upcoming dTAO upgrade has brought renewed focus to TAO. As detailed by prominent analyst ML, the timeline includes key events from February 6 to February 10, when voting and upgrades will take place. ML describes prices under $400 as a “gift” for swing traders targeting a 1-2 month horizon. The confidence in this trade is tied to firm timelines for the upgrade.
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Additional details shared by crypto expert DREAD BONGO highlight earlier milestones, including the release of the revised BIT001 paper on January 31 and the upgrade’s live launch between February 10 and 14. These dates are viewed as potential catalysts for TAO’s price movement.
Economic Potential of dTAO According to Experts
Albert Naghel has outlined how dTAO could fundamentally transform Bittensor’s ecosystem. He emphasizes that the upgrade incentivizes subnet developers to lock TAO, reducing the available supply and creating a self-reinforcing cycle of growth. As more developers join, speculation and demand for TAO are expected to intensify, driving its price higher.
The combination of reduced supply, developer incentives, and upcoming upgrade milestones presents a compelling narrative for Bittensor’s future. With key dates approaching, the market awaits confirmation of whether these events will deliver the expected growth.
TAO’s price is a little above $400, combined with dTAO-related developments, positions it as a project to watch closely. Analysts remain focused on upcoming milestones as potential drivers of market activity.
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