According to this crypto news content, TAO, the native token of Bittensor, is experiencing a bullish trend and is expected to rally further. TAO recently broke out of a descending trendline and is transitioning into a bullish phase. However, it is currently facing resistance at the 200 EMA and the $475 mark. If it can overcome this resistance and close above $490, it could potentially increase by 46% to reach $720. However, the Average Directional Index suggests that TAO lacks strong momentum for a sustained rally. Additionally, long-term holders have been selling off their TAO tokens, which could create selling pressure and lead to a price drop. Despite this, TAO's Open Interest has increased, indicating strong interest from traders. Overall, the bull seems to be dominating the asset at the moment.



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