• TAO trades at $380.23 with weekly gains of 1.4%, holding key support at $360.07.

  • Resistance remains at $386.44, with major liquidity concentration near $500 on the MEXC chart.

  • Bitcoin’s price stability will influence TAO’s ability to approach higher liquidity zones.

Bittensor’s TAO token is showing upward potential as liquidity accumulates at a critical $500 level on the MEXC monthly chart. Current trading data from Coinglass highlights a dense liquidity zone forming near this mark. The coin’s latest price stands at $380.23, reflecting a 1.4% increase over the past week. Measured in Bitcoin, TAO trades at 0.003195 BTC, marking a 0.6% rise in the same period.

Market participants are closely monitoring this development, as the chart indicates a gradual climb from early August lows. If broader market conditions remain stable, notably with Bitcoin’s price action holding steady, TAO could approach the highlighted liquidity area.

Strong Support Maintains Price Stability

The current support level for TAO is positioned at $360.07, according to recent market data. This price area has acted as a firm base during the past week’s consolidation. The coin’s 24-hour range shows movement between $360.07 and $386.44, indicating contained volatility during this phase.

By holding above support, TAO has maintained buyer interest while absorbing short-term sell pressure. The stability at these levels has provided conditions for gradual recovery. This trend is supported by the visible cluster of buy-side liquidity in the $360 to $380 zone.

TAO Tests Critical Resistance, Breakout Could Target $500 Liquidity Zone

TAO faces immediate resistance at $386.44, a price point tested multiple times in recent sessions. This level has so far limited further upward movement, creating a narrow trading corridor. The repeated interaction with this ceiling suggests a potential breakout scenario if buy volume sustains.

The Coinglass heatmap data further reveals concentrated sell liquidity near the $500 mark. This cluster remains well above current levels, yet it offers a clear target for bullish traders. Breaking the $386.44 resistance would be a first step toward that zone.

https://twitter.com/Degen_Hardy/status/1956203024034181226

On the MEXC monthly chart, a prominent band of liquidity is building between $490 and $510. This area, highlighted in recent trading visuals, shows strong market interest. Notably, such liquidity levels often act as magnets for price movement when broader conditions allow.For TAO, this means any sustained upward momentum could bring price action closer to the $500 area. However, Bitcoin’s stability will remain a key factor, as sudden volatility in BTC could disrupt this structure. TAO’s stable support and emerging $500 liquidity zone suggest potential for upward movement if Bitcoin maintains current market stability.