bullish

Bittensor

Resistance

Gains

<p>Bittensor (TAO) has gained momentum in recent trading sessions, with the token currently priced at $587.84, according to CoinGecko. Over the past day, TAO has experienced a <a href="https://www.coingecko.com/en/coins/bittensor" target="_blank" rel="noopener noreferrer nofollow">13.05% increase </a>in value, reflecting strong price action.&nbsp;</p>
<p>Analyst Sjuul from AltCryptoGems provided an in-depth analysis of TAO’s chart, highlighting crucial resistance and support levels.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-local-resistance-and-price-targets-strong"><strong>Local Resistance and Price Targets</strong></h2>
<p>Sjuul’s analysis emphasizes the current local resistance level that TAO is testing. This level serves as a key decision point for the token’s price trajectory. If TAO can break above this local resistance and sustain its price at higher levels, the next target is the real resistance further up the chart.&nbsp;</p>
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   <p lang="en" dir="ltr">Request #1 – <a href="https://twitter.com/search?q=%24TAO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$TAO</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Very clear levels on high time frame and very strong price action.<br>I can see some local resistance here, if we flip it we should trade to the real resistance next, if we're rejected I might expect another visit to mid-range. <a href="https://t.co/rQoVtlJhuS" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/rQoVtlJhuS</a></p>— Sjuul | AltCryptoGems (@AltCryptoGems) <a href="https://twitter.com/AltCryptoGems/status/1842208049903161450?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 4, 2024</a>
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<p>However, if the price fails to flip this resistance into support, TAO may experience a pullback toward the mid-range zone. This technical setup highlights two potential scenarios: <a href="https://www.cryptopolitan.com/bittensor-tao-becomes-top-gainer-among-recovering-ai-narrative/" target="_blank" rel="noopener noreferrer nofollow">a bullish continuation</a> if resistance is breached or a bearish retracement if rejection occurs.</p>
<h2 class="wp-block-heading" id="strong-bullish-scenario-breaking-above-resistance-strong"><strong>Bullish Scenario: Breaking Above Resistance</strong></h2>
<p>In the bullish case, if TAO successfully surpasses local resistance, it would likely trigger further upward momentum. The next resistance level would serve as the new target, potentially driving increased interest from traders.&nbsp;</p>
<p>Moreover, this move would indicate continued strong price action, signaling the possibility of additional gains in the coming sessions. Sjuul points out that a breakout beyond resistance would confirm <a href="https://captainaltcoin.com/bittensor-tao-price-rally-just-getting-started-multiple-indicators-turn-bullish-heres-the-outlook/" target="_blank" rel="noopener noreferrer nofollow">the bullish trend</a>. This is with the token targeting higher levels as it continues its upward trajectory.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/metrics-that-trigger-ripple-double-digit-spikes-reemerges-xrp-price-to-rally-if/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Metrics that Trigger Ripple Double-Digit Spikes Reemerges: XRP Price to Rally If…</em></strong><br></a></p>
<h2 class="wp-block-heading" id="strong-potential-rejection-and-mid-range-support-strong"><strong>Potential Rejection and Mid-Range Support</strong></h2>
<p>If TAO faces rejection at the local resistance, a retracement to the mid-range level is expected. Sjuul’s analysis suggests that this zone could serve as a potential support area, offering traders another buying opportunity.&nbsp;</p>
<p>Should the price action weaken further, a drop to the major support level could follow, providing the final defense for bulls.</p>
<p>Bittensor’s price action is at a pivotal moment, with local resistance determining its next move. The outcome at this level will shape whether the token continues its bullish momentum or faces a retracement.&nbsp;</p>
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<p>The post <a href="https://captainaltcoin.com/bittensor-price-surges-how-high-can-tao-go-key-levels-to-watch/" rel="noopener noreferrer nofollow">Bittensor Price Surges: How High Can TAO Go? Key Levels To Watch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bittensor Price Surges: How High Can TAO Go? Key Levels To Watch

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