Bittensor (TAO) price has increased 15% in the past 24 hours, as it continues to challenge RENDER for the 2nd position among the largest artificial intelligence-focused cryptocurrencies, with VIRTUAL holding the top spot. head firmly.
Backed by strong technical indicators, this uptrend reflects the positive sentiment surrounding AI-related tokens. However, whether TAO can maintain this momentum and post additional profits will depend on the sustainability of the current trend and key support and resistance levels.
The Ichimoku Cloud paints an optimistic picture for Bittensor
The Ichimoku Cloud chart for TAO shows a strong bullish setup as the price has decisively broken above the red cloud. This breakout marks a change in market sentiment, with buyers taking control and pushing prices higher.
The green cloud ahead, formed by the rising Senkou Span A and B lines, further reinforces this bullish view, suggesting momentum is expected to remain positive in the short term.
Additionally, the blue Tenkan-sen line (conversion line) is above the orange Kijun-sen line (base line), signaling strong short-term price momentum relative to the long-term trend. The green Chikou Span (lagging formation) is above both the price and the cloud, which confirms the bullish alignment with past price action.
For Bittensor price to maintain this upward momentum, it must continue to stay in the cloud and build on the recent breakout. However, if the price returns into the clouds, it could signal a loss of bullish momentum or an accumulation phase.
TAO ADX shows that the uptrend is strengthening
The ADX (Average Directional Index) for TAO is at 29, marking a significant increase from 14.5 just a day ago. This spike shows that the strength of the current trend has increased significantly, in line with TAO’s clear attempt at establishing an uptrend. The recent price increase has positioned Bittensor as the 3rd largest artificial intelligence coin in the crypto market.
ADX measures the strength of a trend on a scale from 0 to 100, with values above 25 indicating a strong trend and below 20 indicating weak or no trend momentum.
With ADX at 29, Bittensor is now firmly in strong trend territory, signaling that the emerging uptrend has gained solid momentum. This level shows that buying activity is pushing prices up with increasing confidence. If this momentum continues, the trend could continue in the short term.
TAO price prediction: Increase by 25%?
If the current uptrend continues strong, TAO’s EMAs suggest that a golden crossover could form. This would signal sustained bullish momentum and could push TAO price to test resistance at $565.
If this level is broken, the price could continue to rise to around $645, which represents a potential upside of 25%. This move could make TAO the largest AI coin on the market, surpassing RENDER and VIRTUAL.
On the other hand, if the uptrend loses momentum and fails to hold, TAO price could face a correction. In this scenario, the price could first test the support at $487. If this level is broken, the price could fall further, pushing TAO price down to $449, marking a potential 12.9% correction.
