Earlier today, the Bittensor’s price dropped sharply from around $444 to a low near $390, forming a clear downtrend before rebounding. After bottoming out, however, the price began recovering steadily, reaching around $434 at press time.
This recovery indicates renewed buying pressure, suggesting possible short-term bullish momentum if it maintains above the $430 support level.
Source: CoinMarketCap
Bittensor price approaching a critical resistance at $470
According to Ali Martinez, the price of Bittensor (TAO) is approaching a crucial resistance level around $470, which has historically acted as a strong rejection zone.
Martinez highlights multiple instances where the price was unable to sustain momentum beyond this threshold, resulting in notable pullbacks.
This consistent behavior reinforces $470 as a key psychological and technical barrier for traders, with previous rallies stalling at this same level.
Source: X
Currently, TAO is trading near $450 after rebounding from strong support around the $290–$300 zone, which has repeatedly served as a foundation for bullish recoveries.
If the altcoin manages to break decisively above the $470 resistance, it could signal renewed buying strength and open the path toward the next major target around $600.
Such a breakout would likely shift market sentiment from consolidation to a bullish continuation phase, supported by increased trading volumes and investor confidence.
TAO nears breakout point as symmetrical triangle tightens toward $1,000 target
Based on the latest 4-hour chart shared by CryptoXapper, Bittensor (TAO) appears to be consolidating within a symmetrical triangle pattern, defined by a series of higher lows (green ascending trendline) and lower highs (red descending trendline).
This pattern typically indicates a period of price compression before a major breakout.
With TAO currently hovering around the $440–$450 zone, the price is approaching the apex of this formation, signaling that a decisive move is imminent.
Historically, such setups tend to resolve with strong momentum once either the upper resistance or lower support line is breached.
Source: X
A bullish breakout above the upper red trendline could trigger significant upside potential, confirming renewed buyer strength and likely igniting a rally toward the $600–$1,000 region.
This move would mark a key shift in market sentiment, possibly attracting increased volume and speculative interest.
Conversely, failure to break above resistance may lead to a short-term retracement toward the ascending support line.
Overall, TAO’s current structure suggests that the next major move will likely define its medium-term direction, with bulls eyeing a breakout to establish a new phase of upward momentum