$TAO Analysis: Price Up 15%, Indicators Confirm Strong Uptrend
The ADX (Average Directional Index) for TAO is currently at 29, marking a significant increase from 14.5 just a day ago. This sharp increase shows that the strength of the current trend has increased significantly, in line with TAO's apparent attempt to establish an uptrend. The recent surge has made Bittensor the 3rd largest artificial intelligence coin in the crypto market.
With an ADX of 29, Bittensor is now firmly in a strong trend zone, signaling that the emerging uptrend has gained momentum. This level shows that buying activity is pushing the price up with increasing conviction. If this momentum continues, the trend could continue in the short term.
If the current uptrend continues to strengthen, TAO’s EMAs suggest that a Golden Cross could form. This would signal sustained bullish momentum and could push TAO to test the resistance at $565.
If this level is broken, the price could continue to rise to $645, representing a potential 25% upside. Such a move could make TAO the largest AI coin in the market, surpassing RENDER and VIRTUAL.
