The price of Bittensor (TAO) is starting to look interesting. It’s up about 7% to $422.01, and people are taking notice. On X, crypto analyst ZAYK Charts identified a falling wedge pattern, which often signals a potential trend reversal.
This pattern, characterized by lower highs and lower lows within two converging trendlines, suggests that TAO is approaching a decisive breakout point. If the price breaks above the upper boundary, it could trigger a strong bullish move.
Moreover, the recent rebound from the lower boundary suggests that TAO’s price is approaching a breakout point. If the price successfully breaches the upper trendline (approximately $420-$450) with strong momentum, it could trigger a sustained upward movement.
Bittensor Projected Price Targets and Key Resistance Levels
The analysis highlights a measured move target of 292.6 points, estimating a potential 71.06% increase from the breakout level. This places the next price target in the $700+ range if the pattern plays out as expected.
Support is currently established between $300-$350, while resistance sits near the $420-$450 range. A breakout above resistance could open the way for further gains, with additional resistance expected near $600-$700.
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Volume and Market Sentiment Remain Key Factors
For the breakout to be confirmed, high trading volume is necessary. As more people are buying TAO, this could be a sign that the upward movement has some real strength behind it.
But let’s keep things in perspective. TAO tends to follow what Bitcoin does, and the overall crypto market mood matters a lot. If it can’t break through its current price levels, we might see it move sideways for a while or even drop back down to test lower price points.
Finally, TAO’s price action suggests growing bullish momentum, with the falling wedge pattern indicating a possible breakout. With a 6.17% price increase already in play, investors are watching for confirmation. If the breakout materializes, Bittensor’s price could see a substantial rally toward $700 in the coming sessions.
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