Bittensor (TAO) is trading near $282 after a 15% daily gain, buoyed by capital flowing into the AI crypto sector. Market data indicates sustained spot accumulation since a $154 bottom, signaling organic demand. With neutral funding rates and rising open interest, analysts observe conditions that could support a breakout above the $300 resistance level.
Bittensor (TAO) is experiencing rising buyer demand as capital flows into the artificial intelligence crypto sector. On March 20, TAO traded near $282 after gaining 15% in 24 hours, according to CoinMarketCap data.
CryptoQuant data shows sustained spot accumulation since the $154 bottom. This suggests price may be catching up to underlying demand following consolidation.
According to a TradingView chart, there is a clear bullish trend for TAO. The token is trading above key moving averages, with price action signaling a strong bull trend.
The current RSI value is approximately 55, and not in an extreme oversold condition. Hence, it is reasonable to anticipate additional price appreciation given the high demand.
CryptoQuant’s 90-day CVD (spot taker) shows a steady increase of green bars after the accumulation zone at $154. The green bars show that buyers are dominating the spot market.
The gap between the CVD (spot taker) and the price being flat is an indicator that the token’s price is actually lower than its true demand. Per CoinGlass, TAO perpetual futures volume hit approximately $2.17 billion in 24 hours.
Open Interest also rose above 39% within the same timeframe. Funding rates have been even across all major platforms, including Binance and ByBit.
This means there is a higher chance of the price moving significantly upwards. With a balanced funding rate, there is likely to be a longer trend continuation without the risk of overheating.
There has been increasing investment in the artificial intelligence sector of the cryptocurrency market. Projects like RNDR and FET have seen benefits from this trend.
Bittensor is another important infrastructure project for decentralized machine learning networks. Therefore, TAO is benefiting from the growing narrative of artificial intelligence, which will help drive capital inflows.
Bittensor appears to be aligned with both its technical structure and onchain demand, as well as the growing AI narrative. If the current trends continue, TAO may try to break out of the next resistance at $300.
Strong spot demand and neutral funding suggest reduced downside risk while supporting continued upward momentum.
