Its price remains consolidated within a defined range, indicating that traders are waiting for a clear catalyst to spark the next move.
At press time, TAO’s price has increased by 4.2%, and the charts suggest another potential upswing.
Is the altcoin ready for its next up leg? Let’s find out.
TAO Likely to Continue Trend
On the 4-hour TAO/USD chart, technical indicators present mixed but cautiously optimistic signals. The Chaikin Money Flow (CMF) sits at -0.10, showing slight capital outflows.
However, the indicator is trending upward, recovering from deeper negative levels and hinting at a potential return of buying pressure.
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Meanwhile, the Relative Strength Index (RSI) stands at 59.17, approaching the bullish zone without yet entering overbought territory. This upward movement highlights growing momentum as TAO buyers continue to assert control.
A clear breakout above the upper boundary could signal the start of a new bullish phase. Once this happens, TAO’s price will likely move toward $470.
Derivatives data also support the bullish outlook. Open interest has increased by 8.32%, indicating that traders are opening new long positions while maintaining their previous ones.
On the daily chart, TAO’s price has been forming consecutive green candles, indicating a sustained upward trend.
The Awesome Oscillator supports this trend, standing above the positive threshold at 43.97 with green histogram bars, confirming that bulls currently dominate price action.
The Directional Movement Index (DMI) aligns with this sentiment. The positive +DMI (green) sits above the negative -DMI (red), and with +DMI at 23.19, momentum continues to build.
The Average Directional Index (ADX), at 11.85, shows that while the trend remains weak, confidence in the bullish setup is increasing.
Overall, indicators collectively point toward a bullish market structure. If the momentum holds, the ADX could climb as high as 40, strengthening the trend and pushing TAO’s price closer to $470.
Fibonacci retracement levels further outline TAO’s price action. Currently trading at $423.26 near the 0.618 Fib level, the token shows strong potential to surpass its next Fib target at $470.30, which aligns with resistance around $485.
Should TAO break above the 0.718 Fib level, it could retest its previous resistance zone and aim for the Fib level at $543.67, revisiting its all-time high.
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.
