Here Bittensor (TAOUSDT) can be seen trading safely above EMA55/89, as well as two long-term moving averages (EMA233/377):
This is a bullish bias fully confirmed.
This confirmed bullish bias will put TAOUSDT above $1,100 within 3 months, most likely. But this isn't all, there is room for additional growth. See this chart:
Overall, trading volume is good and this pair has been pretty active lately.
After the last advance, the action is happening at resistance and stays there, no significant retrace is present on the chart. When a project is weak, a challenge of resistance immediately sends prices lower. When the market is bearish, a challenge of resistance leads to a crash.
Let me give you some examples. Notice the peak March 2024, the market was bearish and the drop that follows is fast and strong, also long-term. The same is true for October and December 2024. When the market is bearish, reaching resistance leads to a very strong bearish candle.
Currently, resistance was hit 25-April but the market went sideways rather than crashing, and, yesterday, a full green candle just to keep the action as close to resistance as possible. The more a resistance level is challenged, the weaker it becomes.
» Bittensor is good, TAO is good and ready to grow. It will grow long-term for months. Up and up, more and more; over and over, again and again.
Namaste.
