Bittensor has climbed over 9%, reaching $255.
TAO’s daily trading volume has surged by 42%. A brief rebound in crypto assets might inject bullish sentiment into the market. All major assets are attempting to move toward the green zone. Meanwhile, Bittensor (TAO) has climbed over 9.16%, securing a top spot among the biggest gainers. The opening price for Bittensor was $230.40, hitting a low for the day. After the bulls initiated the rally, the asset has pushed its price to the $259.68 range. TAO’s crucial resistance levels at $261.34 and $267.21 are to be tested to reinforce the bulls.
At the time of writing, Bittensor traded at around $255.08, with its market cap staying at $2.19 billion. Notably, the asset’s daily trading volume has reached $112 million.
Will the Bulls Keep Bittensor’s Momentum Alive?
The upside correction of Bittensor has the potential to climb to the $259 range. A continuous gain may form a golden cross, and it could push the asset’s price around $264.93, with the bullish pressure to keep up the pace. If the downtrend emerges, the asset could see a slip in price, immediately testing the support at $249.22. Assuming the price reinforces its downside correction, it is likely to drive Bittensor below the $244 mark.
TAO’s Moving Average Convergence Divergence (MACD) line has crossed above the signal line, indicating a bullish signal. This crossover could lead the asset to move upward, and the price continues to climb.
TAO chart (Source: TradingView)
In addition, the Chaikin Money Flow (CMF) indicator stationed at 0.09 suggests a modest inflow of capital into the asset. Meanwhile, the daily trading volume of the asset has increased by over 42.69%. The Bull Bear Power (BBP) indicator reading of 27.0 implies a strong bullish dominance within the market. Besides, TAO’s daily relative strength index (RSI), at 65.24, signals that the asset is in positive territory.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. The NewsCrypto team encourages all to do their own research before investing.
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