- TAO ($401.53) broke out of its wedge pattern, with key resistance levels at $455 and $562
- Rising Open Interest and sentiment signaled strong market confidence in TAO’s sustained growth
Bittensor [TAO], at press time, broke out of its descending wedge pattern to trade at $428.93, signaling the start of a strong bullish trend with a 10.56% surge in just 24 hours.
The scale of the altcoin’s price action suggested that investors might be optimistic about the crypto’s future. The question now is whether this momentum can continue and help TAO break through key resistance levels. Will it hold these gains or face challenges ahead?
TAO price action analysis – What’s driving the surge?
TAO’s price action has seen a significant shift in recent days. After breaking out of a key descending wedge, the token successfully crossed the $419-resistance level. In fact, it is now acting as support instead.
Traders are closely watching the $455-mark too, which could be a challenge for the altcoin in the future. If Bittensor continues to break through these resistance levels, it might test higher levels such as $562 and $716. Therefore, the altcoin’s future price action will depend on how it handles these critical resistance levels.
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