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Bittensor Holds the Line: Can TAO Rally 20% from Crucial Support?
- Bittensor (TAO) is currently trading at $338.50, holding above key support between $336 and $340 despite a 3.45% dip.
- A double bottom pattern is forming on the daily chart, suggesting a potential bullish reversal.
- Selling pressure is fading while price action remains steady, indicating possible upside momentum.
- A breakout above $351 could lead to targets at $363, $378, and $400 in the near term.
- TAO, the native token of the decentralized AI protocol, is holding above a crucial support level attracting buyer interest for a potential bullish reversal.
- The daily chart shows a double bottom pattern formation and declining selling volume, hinting at a bullish turnaround.
- On the 4-hour chart, TAO is near key moving averages, suggesting a potential breakout towards resistance zones at $363, $378, and possibly $401.
- Price compression and defense of lower ranges indicate a possible imminent bullish breakout.
- Reclaiming the $360–$365 resistance band could fuel a rally towards $400 and beyond.
- With technical support in place and momentum indicators showing stabilization, Bittensor (TAO) may enter a new phase of bullish continuation.
- In related news, Solana's technicals also signal a potential explosive rally ahead, targeting $250.
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