CandleFocus Bittensor Price Prediction : What’s Next After a 131% TAO Price Rally?
2024-09-23
Author: Content Editor
Bittensor (TAO), a blockchain firm focused on decentralized AI, has seen significant gains in the past two weeks, with the price rallying over 131%. The altcoin has signaled a fresh bull run, with its daily RSI reaching levels not seen since January 2024. The TAO price has consistently closed above the 50-day Moving Average, indicating further upside potential. However, there may be resistance between $560 and $590, which could result in a pullback before reaching a new all-time high. If Bitcoin price retraces below $60k, TAO could retest support around $357. In the long term, the anticipated altseason could propel TAO towards the parabolic phase. The growth of the Bittensor network, with over 102k accounts and 2.5 million on-chain transactions, reflects the increasing adoption of AI-related crypto projects.
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