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The Bittensor price soared 12% in the last 24 hours to trade at $411.62 as of 11:17 a.m. EST on trading volume that surged 24% to $204 billion.
This comes as Artificial Intelligence (AI) cryptos surged 7% to a $28 billion market capitalization, according to Coingecko.
Bittensor Price Aims For A Breakout
The TAO price analysis on the day chart displays a notable falling wedge pattern that appears to be on the verge of a breakout.
The Bittensor price has been in a prolonged downtrend, forming lower highs and lower lows, but recent price action suggests a shift in momentum. The wedge formation, characterized by converging trendlines, typically signals a potential bullish reversal upon a breakout.
Currently, the price of TAO is testing the upper boundary of the wedge, and a decisive move above this resistance could trigger a strong upward rally.
The chart also highlights a key resistance zone around $700, which aligns with a previous high, according to GeckoTerminal data. If the breakout gains momentum, this could be the next major target.
The price of Bittensor is attempting to reclaim the 50-day Simple Moving Average (SMA), which could serve as a dynamic resistance level. The 200-day SMA, slightly above, is also a crucial level to watch, as a break above it would confirm a longer-term trend reversal.
Meanwhile, the Relative Strength Index (RSI) is hovering near the neutral zone (50), indicating that there is room for further upward movement before entering overbought conditions. A rise above 60 would further support the bullish scenario.
The Moving Average Convergence Divergence (MACD) has started to turn positive, hinting at growing bullish momentum. A bullish crossover of the MACD line above the signal line would further confirm the potential for an upside breakout.
TAO Price Prediction
Given the formation of a falling wedge and the improving indicator signals, TAO appears primed for a bullish breakout.
If the Bittensor price successfully closes above the wedge resistance and the 200-day SMA, a rally toward $700 could unfold in the coming weeks.
However, failure to break above the wedge resistance could result in another retest of support around $300.
As the Bittensor price soars, investors are also rushing to buy a new AI agent crypto called MIND of Pepe (MIND), which 99Bitcoins, a popular crypto channel on YouTube with over 724K subscribers, says has the potential to soar 20X after launch.
MIND Of Pepe Presale Closes On $6 Million
MIND of Pepe is a cutting-edge crypto project designed to tackle key challenges in the cryptocurrency space, including market fragmentation, overwhelming information overload, and restricted access to early-stage opportunities.
With more than $5.7 million raised in its presale so far, could MIND of Pepe be the project that finally makes AI trading tools accessible to everyone?
One outstanding feature of the project is its AI’s ability to analyze the emerging trends in the Web3 space on social media platforms, especially ‘Crypto Twitter,’ before the rest of the market catches on.
🚨 $MIND is Now Live in Upcoming Tokens! 🚨@MINDofPepe leverages the power of AI to help users identify new trends and exciting opportunities. The self-evolving AI agent interacts across platforms to deliver real-time updates.
Built on Ethereum, $MIND offers holders exclusive… pic.twitter.com/uyXFpYka5p
— Best Wallet (@BestWalletHQ) January 14, 2025
Buy And Stake MIND
MIND of Pepe’s AI agent goes beyond passive observation and actively interacts with key individuals, platforms, and communities, then delivers its insights directly to MIND holders through token-gated groups.
Currently, MIND tokens are priced at $0.0033055 and can be bought with either crypto or bank cards via the easy-to-use widget embedded on the project’s website.
MIND holders also have the opportunity to stake their tokens for a stratospheric 399% annual percentage yield (APY).
Those interested should buy MIND before a price hike in less than 2 days to lock in the best deal.
Visit MIND here.
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