$TAO is currently trading at $371.8, reflecting a 5.84% increase over the past 24 hours. The token has shown a strong upward trend since early April, surging from approximately $255 to nearly $400, indicating significant bullish momentum.
From a technical standpoint, TAO has formed a golden cross on the daily chart, a bullish signal where the 50-day moving average crosses above the 200-day moving average. This pattern suggests potential for continued upward movement. Additionally, the Relative Strength Index (RSI) is above 70, indicating strong buying pressure.
For short-term traders, the current price action presents an opportunity for long positions, especially if TAO maintains support above the $360 level. However, caution is advised as the RSI indicates overbought conditions, which could lead to short-term pullbacks.
Long-term investors should consider the positive market sentiment surrounding AI-focused cryptocurrencies like Bittensor. Analysts predict a potential high of $406.10 by the end of 2025, suggesting room for growth.
Buy and Trade here $TAO
