Bitcoin has pulled back from 98,000 dollars to 93,500 dollars. Despite significant market volatility, Bittensor (TAO) has demonstrated remarkable resilience during this process, far outperforming most altcoins.
Currently, TAO's price is oscillating narrowly below the key resistance level of 373 dollars, maintaining a bullish structure at the daily level, showing resilience in bullish strength. Over the past ten days, TAO has consistently solidified the support level at 336 dollars, and is currently building a consolidation range in preparation for the next round of volatility.
The daily structure is solid, and breaking through 373 dollars will open up upward space.
From a daily perspective, TAO's movement over the past month shows a certain structure. According to the volume profile (VPVR) data, the market's dominant trading area (PoC) is around 357 dollars, with prices oscillating around this level multiple times, effectively solidifying the support attributes of this area.
Additionally, the 20-day and 50-day moving averages have formed a bullish arrangement, confirming that the medium-term trend has turned bullish. TAO successfully broke through the important structural resistance of 270 dollars, altering the market's volatility pattern, and once spiked to 373 dollars, which is also the Fibonacci 61.8% retracement level.
It is worth noting that despite the price's horizontal consolidation, the daily OBV continues to rise slowly, indicating that potential buying is still accumulating, which is often seen as an important leading signal for a price breakout.
If the price successfully breaks through the 373 dollar resistance, it is expected to accelerate towards the mid-term target area of 480 dollars.
The four-hour structure is sideways, and a short-term breakout still requires confirmation of momentum.
The four-hour cycle shows that TAO's recent trend is relatively stable, lacking clear trend guidance. OBV fluctuates horizontally, maintaining within the range like the price, indicating that short-term buying momentum is relatively mild.
The current consolidation range remains between 336 dollars and 373 dollars, with the PoC support level of 357 dollars being tested and held multiple times. If this support remains effective, TAO is expected to achieve a short-term rebound of about 4.5%, retesting the 373-375 dollar resistance zone.
However, in the context of insufficient short-term momentum, if the market fails to achieve an effective breakout with volume, the consolidation range may continue.
The liquidation heatmap reveals potential paths for 'liquidity sweep.'
According to Coinglass's liquidation heatmap analysis, a large number of potential bullish liquidation orders have accumulated in the 380-390 dollar area over the past month, constituting a liquidity pocket that short-term bulls may chase.
If the price breaks above 373 dollars, this area may become the first target for attracting funds to attack. However, if it is quickly cleared, the bulls may face short-term resistance, and the price could rapidly pull back to the liquidity zone below 318-330 dollars.
Overall, TAO is still at a key node waiting for a breakout in the short term. If BTC stabilizes above 95,700 dollars, it will provide a good macro environment for TAO to challenge 480 dollars. Traders should closely monitor volume, structural breakouts, and BTC correlations, and be wary of short-term 'liquidity sweeps' that could lead to oscillating pullbacks.
