Bittensor’s price looks promising, as some traders think TAO could hit four digits. This bullish outlook stems from strong technical indicators, strategic support levels, and growing interest in AI-driven cryptocurrencies. Prominent analyst CryptoDoc highlights TAO’s potential to ignite an AI season, emphasizing key price zones and breakout opportunities that could fuel its upward trajectory.
Bittensor Chart Analysis: Strong Support in the “Buy Zone”
The $450-$480 range, identified as the “Buy Zone,” has proven to be a reliable support level for TAO. After a retracement from its peak near $700 in October, the token has rebounded from this zone, showcasing buyers’ willingness to accumulate at these levels. This support level not only halts downward pressure but also provides a foundation for potential upward movement.
Currently trading at $578.82, TAO’s price has gained momentum, supported by a 1.72% daily increase. Analysts note that consolidation near $550-$570 suggests the token is preparing to challenge higher resistance levels. Sustained trading above $550 could reinforce its bullish trajectory.
Image Source: X/CryptoDoc Key Resistance Ahead at $680-$700
The pink box on the chart, representing the $680-$700 range, is a significant resistance zone for TAO. This level coincides with the token’s previous peak, where selling pressure is likely to intensify. A breakout above this resistance could signal the continuation of its uptrend, potentially paving the way for a push toward the highly anticipated four-digit price.
CryptoDoc’s tweet highlights this level as a trigger for the “moon mission,” pointing to the importance of breaking this barrier. A decisive move above $700 could attract more traders, increasing momentum toward the target.
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AI Season Hype Fuels Optimism
CryptoDoc’s tweet connects TAO’s performance to broader AI sector trends, suggesting that a rally could coincide with renewed interest in AI-driven projects. As AI technologies gain traction across industries, tokens like TAO stand to benefit from heightened investor attention. This narrative positions TAO as a potential leader in the AI cryptocurrency space.
With TAO’s price trading near pivotal levels, traders are monitoring its performance. A breakout above $700 could validate bullish predictions, while a failure to hold above $550 might result in a retest of the Buy Zone. As technical indicators align with growing AI narratives, TAO remains a token to watch for potential upside.
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