The price of Bittensor (TAO) has reactivated after breaking a significant resistance level at $400. This movement may signal potential growth towards new highs, including the $1,000 mark.
Bittensor (TAO) Price Movement
The price of Bittensor (TAO) surged by 6% and reached around $420. Trading volume has increased by more than 80%, indicating rising interest in the token. Previously, analyst Crypto Rand had flagged this price movement, noting the resistance level was breached.
Technical Analysis and Predictions
After reaching a low of $220 in June, TAO has managed to break through significant resistance between $390 and $415, which is a key level. Current support is observed in the $260–$280 range, while further zones of interest will be between $500 and $650. If the price holds above $415, this increases the likelihood of a breakout towards $500.
The Future of Bittensor (TAO)
The market conditions changed following the breakout at $400, altering the technical picture. If TAO can overcome the psychological milestone of $1,000, it would be a significant achievement. However, if selling pressure resumes, it is important to monitor support levels at $280 and $260.
The breakthrough of the $400 level indicates potential growth for Bittensor (TAO). Future technical conditions and trading volume will be key factors in determining further movements in the market.
