Current analysis of the cryptocurrency market reveals that Bittensor (TAO) is experiencing slowed growth while Pi (PI) continues to decline, placing traders on the lookout for the next profitable project.
Price Trend of Bittensor (TAO)
The price trend for Bittensor (TAO) has noticeably cooled after briefly hitting $285. Currently, TAO has dropped below $270. Analysts note a resistance level forming between $282 and $285. If this level holds, TAO may retreat to the $245-$250 area. The thinning trading volume indicates potential market fatigue.
Downward Trend of Pi (PI)
The downward trend of Pi (PI) continues unabated. This week, the price slipped below $35, suggesting a lack of strong support. Despite early interest, the absence of an active mainnet launch and full exchange listings negatively impacts user interest. If the situation doesn't improve, there could be increased selling pressure from holders.
Prospects of BlockDAG
Despite the slowdowns in TAO and PI, the BlockDAG project has secured significant funding and plans to launch 20 exchange listings. In its final presale phase, BlockDAG sold 22.8 billion tokens for a total of $309.5 million. With a clear roadmap and a working testnet, the project may potentially succeed in the near future.
The current trends in Bittensor and Pi highlight the uncertainty in the cryptocurrency market, however, the active development within the BlockDAG project may indicate a promising success in the coming months.
