Bittensor (TAO) price has jumped 20% in the past two weeks, and this might just be the start. The chart shows that TAO has been moving inside a big triangle pattern since the start of the year.
Crypto analyst Ali thinks the price could be ready for a strong rally toward $1,000 if it can break above $420.
Triangle Pattern and Fibonacci Signals Possible Bittensor Price Breakout
Ali’s chart shows Bittensor making higher lows since February while hitting the same resistance at the top of the triangle. This pattern often comes before a big move. The TAO price is now close to the end of the triangle, meaning a breakout could happen soon.
Ali uses Fibonacci retracement levels to guess where the price could go if TAO breaks above $420. The first target is around $633, the next is $913, and the last is $1,041.
These levels match old price zones and could slow the rally, but Ali believes $1,000 is still possible from the current $398 level.
TAO Indicator Readings Show Mixed Signals
Current technical indicators from investing.com show a mixed picture for TAO. The RSI is at 48.95, suggesting the price is in a neutral zone and not overbought or oversold.
Stochastic readings also sit in a neutral range at 54.77. The MACD shows a buy signal with a value of 2.59, hinting at growing bullish momentum, while the Ultimate Oscillator is at 44.23, which leans bearish.
The next few days could decide TAO’s short-term direction. A strong push above $420 backed by volume and supported by bullish indicators could set off a rally toward $633 and higher targets.
Read Also: Why Is Cardano (ADA) Price Up?
If the breakout fails, TAO may continue moving sideways inside the triangle until buyers take control again. With technical signals split but the chart setup looking bullish, traders will be watching closely for confirmation of the next big move.
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