Bittensor is starting to turn heads with some traders thinking a big move might be just around the corner. The TAO price chart has reached a key level that many see as a major testing ground. According to a chart shared by crypto expert Captain Faibik on X, TAO is pressing up against a long-term descending trendline, and if it breaks through, things could get interesting.
Faibik pointed out that the bulls are trying to push past this “crucial trendline resistance,” and if they succeed, it could kick off what he calls a “massive bullish rally.” His midterm price target? A bold $777, almost double where the price is right now. That prediction has stirred up noise in the community, with many wondering if this could be the beginning of a strong price recovery for TAO. At writing, Bittensor trades at $325.83.
What you'll learn 👉
Bittensor Technical Pattern Shows Defined Channel Movement
TAO price activity over the past few months has taken place within a clear descending parallel channel. The pattern stretches back several months, with lower highs and lower lows forming consistent resistance and support zones. The current setup places the asset near the upper boundary of this channel.
Historically, the upper boundary of the channel has acted as a reliable resistance level. Each time the price reached this area, it faced a downward rejection. At present, TAO is attempting to push beyond this level, with the area between $390 and $400 being particularly important. A close above this range could confirm a breakout from the long-term downtrend.
Bittensor Price Action Suggests Short-Term Strength
TAO’s recent bounce from the lower channel line near $220 shows strong upward momentum. This upward movement has led to the formation of a higher low, often seen by traders as a potential bullish signal. Momentum around this move has brought the price closer to the upper trendline, where it now trades.
The breakout target displayed in the chart analysis reflects a projected move to $777. This estimate is based on the channel height, which is typically measured and applied above the breakout zone in technical setups.
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While the current chart setup leans toward potential upside, analysts also identify clear downside levels. Immediate support exists around $300, which has seen consolidation in previous sessions. Deeper support is located around $220 to $240, aligning with the lower channel trendline.
These levels offer traders key zones to watch in case of a failed breakout. If Bittensor (TAO) price is unable to break above the upper boundary, price may retreat to these levels before attempting another push higher.
Analyst Forecast Gains Traction Across Platforms
Captain Faibik’s tweet and technical chart have gained traction among traders who closely follow price pattern formations. With TAO price at a critical range, many are watching for confirmation through volume and daily close activity. The focus remains on whether TAO can sustain the current momentum and establish a firm breakout toward higher levels.
As market participants await the next move, attention continues to center around the $390–$400 resistance zone and the projected breakout target of $777.
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