BitTensor (TAO) Price Analysis – Eyeing the $277 Breakout
BitTensor (TAO) continues its impressive upward trajectory, currently trading around $255, after previously bouncing from the $200 support level. The last analysis identified $200 as a crucial support zone, and so far, price action has respected it, maintaining bullish momentum.
Key Levels:
Support: $200 – A strong psychological and technical base.
Resistance: $277 – A breakout above this level, confirmed by two daily candle closes, would signal a potential rally toward the $350 region.
Technically, a double bottom formation appears to be developing on the daily chart, suggesting bullish continuation if validated. However, failure to conquer and hold above $277 could lead to a pullback back towards $200.
Conclusion: TAO is shaping up for a potential breakout. Traders should watch for confirmation above $277 for a move toward $350. Until then, the $200 support remains critical.