Amid declining Bitcoin dominance, Bittensor (TAO) emerges as a leading token with a price surge of over 13% to $708.
Key Resistance Breakout
On November 29, TAO broke out of a symmetrical triangle pattern at $587, signaling the start of a bullish phase. It then reached a key resistance level of $679 but retraced to the breakout level of $587, successfully testing support. Today, the token rallied past the $679 resistance level, marking a significant bullish breakout.
Is a New ATH on the Horizon?
This breakout has propelled TAO to its current price of $708. Two scenarios could unfold: a retest of the $679 breakout level or a direct move towards the next resistance level of $767, the all-time high (ATH). If TAO breaks above $767, a new leg upward could drive the price beyond $1,000, continuing its bull cycle.
Market Analysis
With Bitcoin dominance declining and investor interest shifting towards altcoins, Bittensor (TAO) is positioned to gain further traction in the ongoing market rally.
As Bitcoin's dominance declines, TAO demonstrates resilience and significant growth potential, drawing investor interest.
