Bittensor (TAO) Price Gains 10%, Establishing Its Dominance
The price of Bittensor (TAO) has increased by 10% in the past 24 hours, solidifying its position as the largest artificial intelligence token by market capitalization, reaching $4.2 billion. One eye balanced cloud, relative strength indexand EMA lines are pointing to a strong uptrend.
The RSI at 65 suggests there is room for further gains before entering overbought territory, while the EMA is setting support for a potential climb to $625.
TAO Ichimoku cloud shows strong upward trend
TAO’s Ichimoku cloud image display bullish trend. Price is trading above the clouds (Senkou Span A and B), indicating upward momentum. Tenkan-Sen (blue line) and Kijun-Sen (orange line) are also below the price, supporting bullish sentiment.
The clouds themselves have turned green, reinforcing medium-term support, while the upward slope suggests continued strength in the uptrend.
However, the price is approaching key resistance levels, with the narrowing gap between Tenkan-Sen and Kijun-Sen suggesting momentum may be slowing. if Dow If it fails to maintain its position above the turning line, a pullback towards the clouds may occur.
Conversely, a break above current levels would confirm the continuation of the bullish trend, while green clouds would act as a buffer against any potential pullback.
Bittensor is not overbought yet
Request sorting The RSI has risen from 49 to 65 over the past two days, reflecting strong bullish momentum as prices soar. RSI (relative strength index) measures the speed and magnitude of price changes on a scale of 0 to 100.
Values above 70 indicate overbought conditions, indicating a possible pullback, while values below 30 indicate oversold levels, which typically lead to a recovery. The current RSI indicates that although Request sorting It is now approaching overbought territory and there is still room for further gains before a pullback.
Historically, TAO’s price has continued to climb until its RSI reached 72 or 75, suggesting that the current uptrend may have more room to run. If the RSI continues to rise, TAO may continue its upward trend in the short term.
TAO Price Prediction: Back to $600 Soon?
TAO’s EMA lines are currently very bullish, with the short-term line above the long-term line and price trading above all lines. This setup suggests strong upward momentum supported by continued buying pressure.
If this bullish sentiment continues Tao price It is likely to rise another 8% to test resistance near $625, consolidating its uptrend and TAO as the largest dominant position AI Coins on the market.
However, if the current uptrend loses strength, TAO price It could face a retest of key support levels at $510 and $487. If these supports fail, the price could drop further to $449, a sharp 22% retracement.
Disclaimer
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