Is the price of BitTensor (TAO) broken from its landmark for 3 months? Analysts predict an increase of 60 %!
The price of Tao decreased for three months, but things may change. After reaching the bottom about $ 220 to $ 250, the price began to climb, making some people think a greater rise may happen.
Senior analysts, Crypto Rand and World of Charts, shared their ideas about X. Both believe that Tao may recover in the event of certain things.
Currently, Tao is trading at $ 242.17, but the trading volume increased by 39.16 %, indicating more people interested again.
TAO PRICE is backed by the main support area
Crypto Rand indicated that the price of BitTensor wore the support area from 220 to $ 250, which is important before. He believes that this apostasy may end the declining direction for three months.
Market data supports this. When the prices reach this level before, they usually thrive. More trading volume came with this last bounce, indicating that people buy these prices. But in order to start the real upward trend, Tao needs to penetrate the resistance area of 340 to $ 370 and that it had previously stopped.
Moreover, World of Charts noticed a two -hour sporad scent on the graph. This bullish reflection setting indicates that the collapse over the descending trend line can pay the price of Tau about $ 400, an increase of 63.57 % over the current levels.
For this step to achieve it, it must break the price and keep the momentum over 280 – 300 dollars, which is the first key resistance area. If Tao fails to go out, re -testing 220 – 230 dollars is still a possibility before trying another recovery.
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BitTensor size and market morale suggests bullish capabilities
Increased trading volume during this rebound shows more market activity, which may help maintain a high price. In the past, when the size extends near strong support areas, the prices are often reflected.
If the purchase continues, a break between 340 dollars to $ 370 may confirm an ascending trend, and perhaps paid about $ 460 to $ 500 soon. But if this resistance bears steady, the price may decrease again.
Will Tao Price maintain its recovery?
The next few days will be important. If the BitTensor price collapses through Serve resistance and transcending these main resistance levels, we may see a longer start. On the contrary, failure to clarify the main levels may lead to more monotheism.
With the market interest and analysts indicate a possible transformation in the direction, Tao remains one to see it while traders evaluate its next step.
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