The Bittensor (TAO) token has been trapped in a symmetrical triangle pattern during consolidation. However, there are indications that a breakout above $340 could lead to a bull run towards $475. The token has recently experienced a significant correction, falling from a peak of $731 to a low of $165. It has since stabilized around $219, with underlying demand keeping prices above $200. The token is currently showing signs of a double-bottom reversal, potentially signaling the start of a new bullish cycle. Despite resistance from an overhead trendline, indicators such as the MACD and Bollinger Bands suggest that a breakout may be approaching. If a bullish breakout occurs, Fibonacci levels suggest potential targets at $415 and $475. Key areas of demand on the downside are the 20-day EMA at $279 and the $219 support level.



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