Bittensor’s TAO token has confirmed a bullish technical breakout, according to market analysis. Former resistance levels have flipped to support, signaling strengthening momentum. The asset is targeting the $497 level, which represents approximately a 55% upside from current prices, provided buying pressure continues.
Bittensor’s TAO has captured renewed market attention after breaking out of a key technical structure. The crypto analyst Javon Marks stated that former resistance has turned into support, reinforcing confidence in a sustained upward trajectory.
With momentum building, TAO is now targeting the $497 level based on technical projections. Reaching this point would represent an additional upside of around 55% from current levels.
According to TradingView data, TAO’s weekly chart shows an important recovery phase as it attempts to consolidate above its long-term Exponential Moving Averages (EMAs). Currently priced at $316.15, it is testing a crucial pivot point where its 50-week and 100-week EMAs converge at approximately $300.
Volatility is beginning to compress as Bollinger Bands are narrowing, signifying an imminent breakout for the cryptocurrency. Holding its base at $243.87 is considered a positive sign for bullish market participants.
The Relative Strength Index (RSI) for TAO is at 55.24 and has steadily risen above the 50 midpoint. This indicator has successfully crossed its yellow signal line at 42.35, indicating returning bullish momentum.
The Moving Average Convergence Divergence (MACD) shows a positive crossover, where the blue line moves above the orange signal line. The emergence of green-colored histogram bars indicates declining bearish pressure, suggesting the market sentiment is becoming more stable.
