Flow

Cryptocurrency

Future

Bittensor

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/cryptocurrency-gains-from-us-inflation-data" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cryptocurrency Gains from US Inflation Data</a><br></p>
<p style="text-align: justify">Cryptocurrencies experienced a surge driven by U.S. market dynamics and lower-than-expected Producer Inflation. <a href="https://en.bitcoinhaber.net/bitcoin-soars-to-a-spectacular-high-on-valentines-day" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) remains above $59,300, paving the way for altcoin appreciation, although it has yet to reclaim the $60,000 mark. A critical concern now is identifying which altcoin might face a significant downturn due to the so-called “death cross.”</p>
<h2 id="why-did-bittensor-tao-decline">Why Did Bittensor (TAO) Decline?</h2>
<p style="text-align: justify">Bittensor (TAO) saw a daily drop of 15%, surpassing the broader market’s average losses. Its current price of $278 is not bolstered by indicators like the Money Flow Index (MFI) or On-Balance Volume (OBV). The MFI, which gauges buying and selling pressure, has remained flat, indicating investor inactivity amid the decline.</p>
<p style="text-align: justify">Similar to the MFI, OBV also measures market pressure and remains steady. The initial optimism following Grayscale’s announcement of its TAO fund faded within a week, potentially signaling a forthcoming wave of sales. Despite robust development activity and other supportive network <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>, the excitement surrounding the event has dissipated, leading to a natural price correction.</p>
<h2 id="what-is-the-future-outlook-for-tao-coin">What is the Future Outlook for TAO Coin?</h2>
<p style="text-align: justify">The Relative Strength Index (RSI) shows that buyers are encountering formidable resistance. After moving past the neutral zone on August 8, the RSI has since declined. Typically measured on a scale from 0 to 100, the RSI is expected to rise quickly after crossing the midpoint, while a drop below this key threshold indicates a bearish trend.</p>
<p style="text-align: justify">The Exponential Moving Averages (EMAs) offer additional price direction insights. Both the 20-day and 50-day EMAs are currently above the trading price, suggesting a downward trend. The loss of these moving averages highlights weakening investor interest and could accelerate further losses.</p>
<h2 id="concrete-observations">Concrete Observations</h2>
<p style="text-align: justify">– Monitoring the MFI and OBV can indicate investor sentiment.<br> – A steady RSI below the neutral zone signals bearish conditions.<br> – The intersection known as the “death cross” suggests potential deeper dips.<br> – Key price targets for TAO Coin are $241.19 on the downside and $288-$327 on the upside.</p>
<p style="text-align: justify">In conclusion, while cryptocurrencies like Bitcoin show resilience, altcoins such as Bittensor (TAO) face significant challenges. The technical indicators highlight critical points for investors to watch, signaling potential declines unless <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a> improve.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/cryptocurrency-gains-from-us-inflation-data" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cryptocurrency Gains from US Inflation Data</a></h5>

Cryptocurrency Gains from US Inflation Data

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