Bittensor (TAO)
Key points:
TAO traded at $258, up 4.07% over the past 24 hours.
The token saw renewed momentum following bullish sentiment and growing on-chain activity.
What you should know:
Bittensor posted a solid daily gain, closing above the $258 mark after a 4% rally. This came amid renewed trader interest, with analysts pointing to a broader bullish breakout pattern. The Bollinger Bands showed price movement pushing toward the upper band, hinting at increasing volatility. The Chaikin Money Flow (CMF) turned positive and hovered near 0.11, indicating strong capital inflow and rising accumulation pressure. Despite recent scam allegations making rounds, several analysts viewed the FUD as short-lived. The token has recovered steadily since mid-April, breaking out of its sideways trend and reclaiming its mid-Bollinger zone. If TAO sustains momentum and closes above $265, it could target the upper resistance near $280. However, failure to maintain current levels might pull the price back toward the $227 support zone. TAO’s fundamentals remain strong, and a clean technical setup could aid its next leg upward.
