The price of Bittensor (TAO) has risen by 7% – Bulls targeting a breakout at the resistance level of $280
Bittensor's price predictions for April indicate a continuation of the recovery, with the potential to reach the $280.00 level soon. The technical structure of the chart appears bullish, forming a clear reversal pattern. Furthermore, buyers seem to be more aggressive than sellers.
Additionally, the likelihood of continued upward momentum remains high as buyer strength emerges. Bittensor's price is surpassing the psychological level of $250, indicating strong momentum.
On the four-hour timeframe, the price of TAO has broken through the 50-day (225.91 USD) and 200-day (251.45 USD) exponential moving averages, indicating positive momentum. According to CMC data, the current price of Bittensor is $253.08 with a daily increase of 7%. Furthermore, the trading volume to market cap ratio has stabilized at 6.14% over the past 24 hours, with a market cap of $2.17 billion.
Will the price of Bittensor (TAO) reach the $300 level?
The price of TAO is witnessing a significant rebound after gaining support near $168.26, rising by approximately 52%. The price may now attempt to break the $280 barrier. If the bulls succeed, the price could reach $300.00.
