Is Bittensor (TAO) Price Breaking Its 3-Month Downtrend? Analysts Predict a Massive 60% Surge!
The price of TAO has been falling for three months, but things might be changing. After hitting bottom around $220-$250, the price has started to climb back up, making some people think a bigger rise could happen.
Top analysts, Crypto Rand and World of Charts, have shared their thoughts on X. Both think TAO might recover if certain things happen.
Right now, TAO is trading at $242.17, but trading volume is up 39.16%, showing more people are getting interested again.
What you'll learn 👉
TAO Price Bounces From Major Support Zone
Crypto Rand pointed out that Bittensor’s price bounced off the $220-$250 support area, which has been important before. He thinks this bounce might end the three-month downtrend.
The market data backs this up. When prices hit this level before, they’ve typically rebounded. More trading volume came with this recent bounce, showing people are buying at these prices. But for a real uptrend to start, TAO needs to break through the $340-$370 resistance zone that’s been stopping it before.
Moreover, World of Charts noticed a falling wedge pattern on the 2-hour chart. This bullish reversal setup suggests that a breakout above the descending trendline could push TAO’s price toward $400, a 63.57% increase from current levels.
For this move to materialize, the price must break and sustain momentum above $280–$300, the first key resistance zone. If TAO fails to break out, a retest of the $220–$230 range remains a possibility before another recovery attempt.
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Bittensor Volume and Market Sentiment Suggest Bullish Potential
The increased trading volume during this bounce shows more market activity, which could help keep the price moving up. In the past, when volume spikes near strong support areas, prices often reversed direction.
If buying continues, breaking past $340-$370 could confirm an upward trend, possibly pushing toward $460-$500 soon. But if that resistance holds firm, the price might drop again.
Will TAO Price Sustain Its Recovery?
The next few days will be important. If Bittensor’s price breaks through the falling wedge resistance and past those key resistance levels, we might see a longer uptrend starting. Conversely, failure to clear key levels might lead to further consolidation.
With increased market interest and analysts signaling a possible trend shift, TAO remains one to watch as traders assess its next move.
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