The price of Bittensor (TAO) has increased 10% in the past 24 hours, confirming its position as the largest artificial intelligence coin by market capitalization with a value of $4.2 billion. The Ichimoku Cloud, RSI and EMA indicators all show a strong uptrend.
The RSI at 65 suggests that there is still plenty of space for further upside before the currency enters overbought territory, while the EMA setting supports a rise to $625.
TAO’s Ichimoku Cloud shows a strong upward trend
The Ichimoku Cloud chart for TAO shows a bullish price trend. Price is trading above the clouds (Senkou Span A and B), indicating upward momentum. The Tenkan-Sen line (blue line) and Kijun-Sen (orange line) are also below the price, supporting bullish sentiment.
The clouds themselves have turned green, consolidating mid-term support, while the upward slope suggests continued strength in the uptrend.
However, the price is approaching key resistance levels, and the narrowing gap between Tenkan-Sen and Kijun-Sen points to a possible slowdown in momentum. If TAO fails to maintain its position above Tenkan-Sen, a pullback to the clouds is possible.
Conversely, a break above current levels would confirm a continuation of the uptrend, with green clouds acting as a cushion for any potential correction.
Bittensor is not overbought yet
Bittensor’s RSI has risen to 65 from 49 over the past two days, reflecting strong bullish momentum as prices break out. RSI, or Relative Strength Index, measures the speed and intensity of price movements on a scale from 0 to 100.
Values above 70 indicate overbought conditions, suggesting a possible pullback, while values below 30 signal oversold levels, often leading to a recovery. Current RSI shows that while Bittensor is approaching the overbought zone, it still has space to increase further before a correction occurs.
History shows that TAO’s price continues to climb until the RSI reaches between 72 and 75, which suggests that the current uptrend may have room to run further. If RSI continues to increase, TAO can extend the recovery momentum in the short term.
TAO price prediction: Return to the 600 USD mark soon?
TAO’s EMAs are currently very bullish, with the short-term lines above the long-term lines and the price trading above all of them. This setting indicates strong upward momentum, backed by steady buying pressure.
If this bullish sentiment continues, TAO price could rise another 8% to test resistance around $625, reinforcing the uptrend and TAO’s market dominance as the largest artificial intelligence coin .
However, if the current uptrend loses strength, TAO price could face a retest of key support levels at $510 and $487. If these support levels fail to solidify, the price could fall further to $449, marking a significant 22% correction.
