$TAO price has bounced back from $340, showing higher lows that indicate strong accumulation and growing momentum toward the $500 resistance level. Bittensor is forming a rounded base pattern, with bullish signals suggesting a potential breakout above $437 and a possible run toward $1,000.


Maintaining support above $335 keeps TAO’s bullish structure intact, while a drop below could risk a decline to $277.6.


Price Recovery from Fair Value Gap Support

After a sharp pullback from mid-July highs, TAO has regained strength, bouncing strongly between $301.5 and $340. This zone overlaps the Fair Value Gap (FVG) and serves as a key structural support level, as noted by market analyst Crypto Patel during his May 28 retracement call, where $284 was identified as a potential 0.5 Fibonacci retracement.


The latest 3-day candlestick chart shows TAO trading around $377.9, with higher lows forming since revisiting the FVG area. Rising volume during this bounce reinforces the bullish outlook.


Resistance Levels in Focus

Key resistance lies between $437.9 and $466.3, a zone that previously halted rallies and aligns with historical rejection points. The rounded base pattern starting near $277.6 hints at a possible retest of these levels.


A breakout above $466 could open the path to $500 and even $1,000, matching earlier price targets of $500, $1,000, $2,000, and $3,000 for this cycle highlighted by Crypto Patel. Another market watcher, Hardy, points to $429 as an initial target, noting untapped daily resistance and the Point of Control for this range. Bullish momentum remains intact as long as TAO holds above weekly support at $326.60.


Indicators Signal Strength

On the 4-hour chart shared by Crypto Rank, the MACD shows a bullish crossover at 5.8, well above the signal line at 2.4. The RSI at 64.16 indicates strong momentum without overbought conditions. The recent rally started after a higher low formed in early August, breaking the short-term downtrend from late July.


While the risk of a downside move exists if TAO fails to break above the $437.9 resistance, holding above the $335–$340 support range keeps the bullish structure alive. A breakdown below this support could lead to a 29% drop toward $277.6 from current levels.


Sources:



  • https://twitter.com/CryptoPatel/status/1953754055182102844


  • https://twitter.com/Degen_Hardy/status/1953589358461956537


  • CryptoRank