CandleFocus Bittensor (TAO) Price Primed for Breakout, Will It Hit a New All-Time High?
2024-10-24
Author: Content Editor
Bittensor (TAO) is currently in a bearish state of correction after a period of upward trend. Analysts predict that the token may reach a new all-time high. The market is at a crossroad, with traders waiting for the price to test support and resistance levels to determine its direction. TAO recently broke out of a descending channel and formed a symmetrical triangle, which could lead to further gains if the price holds above $547. However, if the price fails to break through this level, it may trend downwards to support levels of $500 or below. Recent data shows heightened trading activity for TAO, but the token has experienced a slight price decline in the past 24 hours and over the last week. Despite this, overall sentiment remains optimistic due to the network's growth and strong demand for the token.
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