Key Takeaways
- TAO surged 10.5% to $393.70, testing resistance at $397.55.
- Support remains firm at $356.12, forming a tightening trading range.
- Technical charts indicate potential short-term breakout if resistance is breached.
- Bitcoin pairing strengthened, reflecting renewed market interest.
Bittensor (TAO) Surges Toward $400 Amid Tight Trading Range
Bittensor (TAO) has seen a notable 10.5% surge in the last 24 hours, trading near $393.70 as it tests the crucial resistance at $397.55. Support remains firm at $356.12, signaling a tightening range that could precede heightened volatility. Traders are closely watching whether TAO can sustain momentum above the upper boundary after recent consolidation.
Price Action and Trading Range
Over the past 24 hours, Bittensor has fluctuated within a range of $356.12 to $397.55. This narrowing band reflects short-term market evaluation, as traders weigh demand strength and potential breakout points. The price push around $390 indicates renewed buyer interest, following periods of consolidation earlier in the month. Repeated rebounds near the lower support line have reinforced short-term optimism, though broader momentum remains under assessment.
Chart Structure and Technical Levels
TAO’s daily chart shows attempts to break above a prolonged descending trendline. Holding above the $356 support level has provided stability, while resistance at $397.55 continues to cap upside movements. Frequent tests of this ceiling have compressed the trading range—a pattern often preceding increased activity. Technical analysts suggest that sustained movement above resistance could trigger a short-term bullish trend.
Also Read: Altcoin Season Is Approaching: Key Charts Reveal a Big Crypto Shift Ahead
Market Context and Outlook
Recent sessions highlight moderate volume with gradual upward pressure. The Bitcoin pair of TAO also strengthened, climbing 5.6% to around 0.003703 BTC. Maintaining support at $356.12 is crucial for structural stability, and traders are likely to monitor the next few sessions for potential range expansion. With TAO positioned between firm support and capped resistance, short-term direction will largely depend on liquidity and volume spikes.
