Bittensor (TAO) Price Analysis: TAO Crypto Escapes Two-Month Range and Rallies 70%

TAO, the altcoin that powers Bittensor's decentralized machine learning network, has been gaining attention. Since mid-September, Bittensor crypto has been rallying and surging more than 70%, reaching the $650 mark.

Bittensor (TAO) crypto has been displaying an impressive bull dominance among the top AI tokens, rewarding its investors with remarkable gains.

Over the past few weeks, TAO price has outperformed the crypto market, surging more than 70% and hitting the $650 mark.

This sustained uptick in buying activity has been evident with the token’s price rebounding from the 20-day EMA mark this week.

As bears attempted to defend the $650 mark, a successful breach by the bulls would trigger a short covering, potentially paving the way for TAO to reach the $700 mark in upcoming sessions.

Bittensor crypto has remained an outperformer, showcasing an upward rally in the past few weeks.

It was mired in a parabolic upward movement, gaining massive bullish traction and recently experiencing a range breakout as TAO crypto moved out of the two-month range.

This resulted in TAO price surges of up to 70% till now. Now, bears have tried to secure the $650 mark and are looking to beat the roaring bulls.

Fueled by strong buying interest, the trading volume surged over 110% within a week alongside the price surge of over 30%, hints at sustained buying activity.

TAO was trading at $652.30 at press time, noting an intraday rise of over 13.47%.

Its market cap was $4.72 Billion and it was the 22nd largest crypto.

The crypto noted a golden crossover between the 50-day and 100-day EMA, which triggered a massive bullish rally.

Crypto Trader Zen highlighted in his post that the last bit of supply is being absorbed around the $650 mark.

As massive liquidity entered TAO, a further rally toward the $750-800 mark could be seen by the end of this year.

$TAO soonHeavy spot bid all the way up.

Last chunk of supply being consumed between $550-$650

As 2025 approaches liquid funds have two options if they want to outperform:

a) buy memes – selection difficult, hard to explain to LPs ("we uhh, invested in cults?")

b) buy TAO -… pic.twitter.com/UafCFWlXYl

As per the Fibonacci retracement levels, Bittensor crypto has sustained gains above the 61.8% zone and remained in the overbought zone.

Bittensor Price Analysis: What Do Technical Indicators Say?

Bittensor crypto delivers a steady uptrend and continues to form higher highs.

It has climbed above the key EMAs and witnessed bullish momentum.

The rising 20-day and 50-day EMA hints at the heightened buying activity and TAO price surges in future.

The Relative Strength Index (RSI) line rested above the midline region around 66, conveying a rising buying pressure.

The Open Interest (OI) rose over 23.26% to $210.67 Million, representing a massive long buildup activity over the past 24 hours.

The immediate support zones were $620 and $600, whereas the resistance levels were $680 and $700.

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