- Bittensor (TAO) hovers near a key resistance at $466.3, with bullish momentum supported by a trendline breakout and rising volume.
- A confirmed breakout above resistance could send TAO soaring toward $730–$1,200, while failure may trigger a retest of $301–$277.
- Corporate interest grows as Oblong raises $7.5M to buy TAO, adding strength to bullish setups like the double-bottom pattern.
Bittensor (TAO) trades near a turning point as price action challenges key resistance after recent bullish momentum. According to Crypto Patel, TAO recently broke through a descending trendline, signaling a potential bullish shift. It now tests a Fair Value Gap (FVG) zone and sits close to a strong resistance at $466.3. Holding above this zone could push TAO toward $730 or even the $1,200 mark. However, a rejection might send the price back to test support levels between $301 and $277.
Source: Crypto Patel
Besides, the recent price surge saw TAO gain 10.6 points, climbing 2.52% to trade around $430.7. Trading volume reached 30.26K, showing strong market engagement. Patel’s analysis highlights a larger structural breakout, supported by the blue trendline that connects major swing highs. Hence, TAO’s move above this trendline signals strengthening bullish sentiment.
Resistance Barriers Continue to Challenge Price Action
TAO’s price movement now oscillates between well-defined support and resistance zones. Significantly, resistance at $466.3 has repeatedly tested bullish strength. This zone has limited upward momentum despite recent recoveries from lower levels.
Moreover, the presence of an FVG support zone indicates buying interest during market pullbacks. This provides a cushion for any short-term corrections. Price action displays higher lows, suggesting gradual recovery since previous downtrends. Consequently, TAO forms a critical setup for the next directional move.
Ted Highlights Double-Bottom Pattern and Corporate Interest
Ted identifies an inverse head and shoulders along with a textbook double-bottom formation. This pattern adds weight to the bullish outlook. Prices first dropped to $158 during a major correction between February and April. They then bounced back sharply in June, breaking above $475 resistance.
Source: Ted
Additionally, NASDAQ-listed Oblong recently raised $7.5 million to acquire TAO. This indicates growing institutional interest. According to Ted, more companies may follow suit, driving long-term demand. Furthermore, technical structure remains favorable as previous resistance now turns into support. The price holds firmly above breakout zones. Volume spikes during breakouts validate this strength.
