[ad_1]
- TAO broke out of a descending channel, forming a bullish cup-and-handle pattern.
- Market sentiment aligned with bullish momentum, as technical indicators and metrics supported further gains.
Bittensor [TAO] has broken out of a prolonged descending channel, sparking excitement among traders about a potential cup-and-handle formation.
Trading at $525.9 at press time, the cryptocurrency has surged over 20% within 24 hours, accompanied by an extraordinary 183.78% spike in trading volume.
TAO price action: Momentum builds in a bullish shift
TAO’s price action has turned decisively bullish, with the breakout from the descending channel signaling the beginning of a strong upward trend.
The cryptocurrency is approaching the critical resistance level of $607, which could act as a pivotal point for its trajectory.
A sustained break above this level would confirm the bullish reversal and open the door to further upside, with $800 emerging as a potential target based on historical price structures and technical patterns.
However, failure to breach $607 could lead to short-term consolidation, offering traders opportunities to reassess market conditions.
The momentum, fueled by increasing trading volume and market enthusiasm, suggests that bulls are firmly …
[ad_2]
