Bittensor (TAO) Signals Bullish Breakout Potential: Could $600 Be Next?
- After a significant sell-off, TAO is shifting from bearish to bullish, rebounding strongly from its $164 low.
- TAO has gained around 8% over the past week and is currently trading at $275.29, up by 7% in the last 24.
- Bittensor is forming an inverse head-and-shoulders pattern, suggesting a potential breakout above $300, with a target of $600 in the coming months.
- A brief pullback to $212 before a rally could mirror previous corrections, setting the stage for a strong recovery.
Bittensor (TAO), after facing a huge sell-off and downward trend, is now shifting from a bearish to a bullish phase. TAO hit its recent low at $164 and strongly rebounded from this level and is on the verge of a breakout.
Over the past week, Bittensor is up by 8%, showing signs for further upward movement. As of now, Bittensor is trading at $275.29 and is up by almost 7% in the last 24 hours, with 24 hours of trading volume of $142.1M, up by 15%, supporting a positive outlook.
TAO Charts Bullish Pattern, $600 in Sight
Bittensor (TAO) is capturing the attention as technical analysis highlights a promising setup. TAO has undergone a 65% correction and is now forming an inverse head-and-shoulders pattern, a classic bearish-to-bullish reversal signal. The chart, spanning mid-2024 to April 2025, shows TAO retesting the patterns neckline around $300, a level that previously sparked a breakout in July 2024.
However, a potential pullback to $212 before a major rally could push Bittensor to $600, mirroring historical price action where similar corrections (62.4% and 64.8%) led to strong recoveries. This optimism aligns with Bittensors recent performance as the top gainer over a 24-hour period, despite facing resistance at a 134-day descending trendline near $317. A break above this could confirm the bullish momentum.
Technical patterns like these, rooted in historical data, are key for predicting crypto price movements. If Bittensor follows this trajectory, it could become a standout altcoin in the current market cycle. Stay tuned for updates.
Read More: Ethena (ENA) Gains Momentum as BTC Surge Lifts Altcoins; Key Resistance at $0.33
Read more: https://www.tronweekly.com/bittensor-tao-signals-bullish-breakout-potential-could-600-be-next/
Text source: TronWeekly
