Bittensor (TAO): A Bullish Outlook Amidst Volatility
Bittensor TAO bulls uphold $336 underpinning, aim for $373 - Learn the reasons behind this target
Bittensor's market structure has been consistently bullish in the last ten days. The key resistance level at $373 remains an obstacle, but traders anticipate a bullish breakout soon.
Holding Steady Among the Volatility
Bittensor failed to shake even during Bitcoin's recent 4.5% dip. Unlike many altcoins, Bittensor has maintained its footing, indicating strong underlying support.
Preparing for the Next Price Move
The consolidation under the $373 resistance level is a build-up for the next price move. Bulls have managed to hold the $336 support, suggesting the bullish momentum may continue.
Encouraging Price Action
Over the past month, TAO's Fixed Range Volume Profile has displayed a Point of Control (PoC) near $357. The price surge past $270, following a flip in the swing structure, and the surge to $373, the 61.8% Fibonacci retracement level, are positive signs for bulls. The On-Balance Volume (OBV) has also trended upward, indicating increasing buying pressure.
A Potential Breakout
Breaking past the $373 resistance level could signal a rally towards the Value Area High at $480. On the other hand, the four-hour chart suggests less short-term buying pressure, with the OBV and moving average lines cautiously optimistic.
Watch for the Liquidity Pocket
The liquidation heatmap hints at a potential bullish breakout, with a strong liquidity cluster at $380-$390. This liquidity pocket could be swept before a potential rejection, followed by a price pivot to $318-$330.
Remember, this forecast is only an analysis of market trends and should not be taken as financial advice. The actual market behavior can differ significantly, so always conduct your own research before making investment decisions.
Enrichment Data:
Bittensor (TAO): Market Predictions and Key Levels
Based on expert assessments and projections, Bittensor (TAO) is likely to experience significant volatility in the short term, with potential for both notable gains and retracements. Here’s a condensed summary of the market structure and crucial levels:
Recent Market Structure
- Bullish Potential: Various sources indicate a bullish technical setup for TAO into 2025, with analysts forecasting TAO to trade within wide ranges, featuring strong upward potential along with notable corrections[1][3].
- Volatility: Predictions point to price swings, with some analysts expecting TAO to test new highs and support levels within a few weeks or months[2][4].
Crucial Price Levels
| Period | Support ($) | Resistance ($) | Average ($) ||------------------|-------------|---------------|------------------|| May 2025 | 363.90 | 1,000.01 | 681.96 || June 2025 | 1,063.35 | 1,239.84 | 1,151.60 || July 2025 | 431.55 | 447.02 | 439.29 || August 2025 | 440.94 | 449.68 | 445.31 |
- Q2 2025 Range: Some analysts anticipate TAO to trade between $600 and $800, with $800 serving as a major resistance zone. A bullish break and hold above this level could drive prices higher, potentially toward $1,000-$1,108 in the short term[3][4].
- Annual Trading Range: For the entire year, estimates suggest a trading range from as low as $235.67 up to $1,108.53, with an average around $625.96[4].
Critical Resistance and Support
- Primary Resistance: The $800 level is seen as a vital barrier, and overcoming it could pave the way for further upside, targeting $1,000-$1,108 in the short term[3][4].
- Key Support: Important levels to watch during pullbacks include the $363.90-$440 range for the near future. Holding above these support levels would preserve the bullish momentum[2][4].
Summary
In the short term, TAO is expected to remain volatile, with strong bullish potential if it can conquer resistance levels. Failure to sustain support might lead to sizeable corrections. Traders should keep a close eye on the $800 resistance and the $360-$440 support range, as these will likely shape the direction over the coming months[1][3][4].
- Bittensor (TAO) and Bitcoin (BTC) have demonstrated resilience amidst market volatility, with Bittensor maintaining its footing even during Bitcoin's recent dip.
- The last ten days have shown a consistently bullish market structure for Bittensor, with key resistance at $373 remaining a challenge but a bullish breakout is expected soon.
- Crypto enthusiasts are encouraged by the recent price action of TAO, as the Fixed Range Volume Profile has displayed a Point of Control near $357, and the price surge past $270 suggests bullish momentum.
- The consolidation under the $373 resistance level is a build-up for the next price move, with bulls holding the $336 support, indicating a potential rally towards the Value Area High at $480.
- In the short term, TAO is likely to experience significant volatility, with potential for both notable gains and retracements. The market predicts price swings, with TAO testing new highs and support levels within a few weeks or months.
- The liquidation heatmap suggests a potential bullish breakout, with a strong liquidity cluster at $380-$390. This liquidity pocket could be swept before a potential rejection, followed by a price pivot to $318-$330.
