Is TAO price ready to hit $500? | Credit: Hameem Sarwar
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Key Takeaways
TAO has surged 17%, while volume has jumped 130%, as the BBP confirms strengthening buying pressure.
TAO is now testing a key supply zone that has previously triggered rejections, suggesting a potential breakout.
Attention now shifts to the 0.5 Fibonacci level near $340 as the next upside target for the altcoin.
Bittensor’s native coin, TAO, has recovered above $300 following an 18% bounce in the last 24 hours.
This marks the most significant move for the cryptocurrency since its correction some days ago. The move carries weight beyond the percentage gain alone.
But can TAO’s price keep rising?
Capital Inflows Surge Significantly
TAO is pressing into a critical resistance zone near $320 after a sustained bullish advance.
Price action also shows a clear recovery structure, with higher highs and higher lows forming over the past sessions. Momentum has accelerated into this resistance, suggesting growing market conviction.
However, this level has historically acted as a supply zone.
As a result, the next move from here is pivotal. TAO’s recent rally follows a sharp mid-range correction, during which price briefly dipped toward $250 before rebounding aggressively.
Since then, buying pressure has reignited.
Meanwhile, on the 4-hour chart, the Bull Bear Power (BBP) indicator has flipped positive and is currently above 50. This signals that bullish dominance is increasing.
At the same time, Chaikin Money Flow (CMF) has surged to 0.17. This indicates sustained capital inflows into TAO. The sharp uptick suggests fresh liquidity entering the market rather than just short covering.
The asset is now testing a horizontal resistance near $320.
This level previously capped upward movement, making it a high-interest zone for sellers. If TAO breaks and holds above $320, continuation becomes highly probable.
Buying Pressure Supports Uptrend
Supporting the uptrend further, spot netflow on the derivatives chart surged to $9.78 million, coinciding with TAO’s price climbing past $314.
The spike signals strong buying pressure entering the market, suggesting renewed accumulation.
Prior flows were relatively muted, indicating low activity rather than active selling.
This inflow supports the ongoing short-term uptrend, though continued monitoring is essential to confirm whether buying pressure can sustain further gains toward key resistance levels.
Should the inflow continue to rise, TAO’s price could breach $400 soon.
TAO Price Forecast: Bullish
TAO is regaining strength after a prolonged downtrend, with price now pushing toward a key inflection zone.
The cryptocurrency has reclaimed the 0.382 Fibonacci level near $293.68 and now sits at $315.73, signaling renewed bullish intent.
However, momentum faces a critical test as price approaches the 0.5 level around $340.39, a zone that previously acted as strong resistance.
The structure shows a clean break from the descending trendline, followed by a steady series of higher lows. This confirms a short-term trend reversal.
In parallel, the Moving Average Convergence Divergence (MACD) remains firmly bullish, with widening histogram bars, indicating a strengthening upside move.
Concurrently, the Relative Strength Index (RSI) is hovering above 70, suggesting overbought conditions and a potential cooldown.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
