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Bittensor

<p><a href="https://captainaltcoin.com/why-is-bittensor-tao-like-bitcoin-on-steroids/" target="_blank" rel="noopener noreferrer nofollow">Bittensor (TAO)</a> is nearing a key resistance level, as highlighted by analyst Roman (@Roman_Trading) in his tweet. According to Roman, TAO is inching closer to a breakout, with the $400 mark serving as the crucial threshold for a potential surge.&nbsp;</p>
<p>If TAO surpasses this level, Roman projects a sharp rally to the $2,000 – $3,000 range. However, TAO has been consistently challenged by this resistance, raising questions about whether it can sustain the momentum for an upward movement.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24TAO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$TAO</a><br><br>Inching closer and closer to to breaking out &amp; shooting to the stars!<br><br>$400 break &amp; we can resume the move to $2-3k before next correction.<a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#bitcoin</a> <a href="https://twitter.com/hashtag/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#cryptocurrency</a> <a href="https://twitter.com/hashtag/cryptonews?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#cryptonews</a> <a href="https://t.co/XuZdeFk8sy" target="_blank" rel="noopener noreferrer nofollow">https://t.co/XuZdeFk8sy</a> <a href="https://t.co/PV1qzvQ8xG" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/PV1qzvQ8xG</a></p>— Roman (@Roman_Trading) <a href="https://twitter.com/Roman_Trading/status/1836610710236750199?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 19, 2024</a>
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<h3 class="wp-block-heading" id="strong-key-to-tao-s-potential-rally-strong"><strong>Key to TAO’s Potential Rally</strong></h3>
<p>Roman’s analysis centers on the $400 price point, which has been a major resistance level for TAO. The chart he shared illustrates how TAO has repeatedly tested this level but has yet to secure a clear breakout. This resistance zone, marked in red, has triggered multiple rejections in the past, indicating its importance in determining <a href="https://coinmarketcap.com/currencies/bittensor/" target="_blank" rel="noopener noreferrer nofollow">TAO’s future direction</a>.</p>
<p>If TAO breaks through the $400 barrier, Roman anticipates a substantial rally. The potential price targets, as outlined in his analysis are around $2k and $3k. This projected rise represents a 5x to 7.5x increase from the current price, a level that could ignite interest in the token. However, the breakout remains contingent on overcoming the established resistance.</p>
<h3 class="wp-block-heading" id="strong-historical-price-movements-and-support-levels-strong"><strong>Historical Price Movements and Support Levels</strong></h3>
<p>In addition to the resistance at $400, Roman highlights a lower support level around $250. This price point has served as a floor for TAO during previous downward movements. Although the $250 level provides some consistency for the token, the main focus still is on whether TAO can break out from its present consolidation period.</p>
<p>TAO has repeatedly tested the $400 mark, but thus far it has found difficulty keeping momentum beyond this level. Should the token fail to breach the resistance, it may go back to the $250 support prior to another try at elevation.</p>
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<h3 class="wp-block-heading" id="strong-potential-patterns-and-volume-trends-strong"><strong>Potential Patterns and Volume Trends</strong></h3>
<p>Roman’s chart also suggests a possible inverse head and shoulders pattern, which could indicate a bullish reversal. This formation supports his optimistic outlook on TAO, aligning with his expectation of a breakout.</p>
<p>The volume surrounding TAO has shown signs of gradual growth, which may be a signal of increasing market interest. The rising volume trend suggests that momentum is building, potentially setting the stage for the breakout Roman anticipates.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/this-xrp-chart-looks-like-a-time-bomb-will-ripples-token-repeat-2017/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>This XRP Chart Looks Like a ‘Time Bomb’ – Will Ripple’s Token Repeat 2017?</em></strong><br></a></p>
<h3 class="wp-block-heading" id="strong-roman-s-projection-a-bullish-outlook-strong"><strong>Roman’s Projection: A Bullish Outlook</strong></h3>
<p>Roman’s prediction hinges on TAO’s ability to surpass the $400 resistance. His tweet expresses confidence that a breakthrough at this level will lead to a sharp rise in the token’s value, targeting $2,000 – $3,000.</p>
<p>However, it is important to note that until TAO can clear the $400 resistance, the token will likely continue to consolidate between its established support and resistance levels. If the breakout fails, the $250 support may come into play once again, providing a key level to watch for future price action.</p>
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<p>The post <a href="https://captainaltcoin.com/can-bittensor-tao-price-break-crucial-resistance-analyst-predicts-7-5x-rally/" rel="noopener noreferrer nofollow">Can Bittensor (TAO) Price Break Crucial Resistance? Analyst Predicts 7.5x Rally</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Can Bittensor (TAO) Price Break Crucial Resistance? Analyst Predicts 7.5x Rally

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