Bittensor (TAO) Surges 20.18% Amid Market Selloff and VC Interest
Bittensor (TAO) has increased nearly 2% in the last 24 hours, contrasting with broader market selloffs. Key points include:
- Current trading price: $429.98, testing support at the 20-day Exponential Moving Average (EMA) of $420.
- Recent daily high reached $446.41; a surge of 20.18% over the past week.
- Maintaining support is crucial for potential price movement towards $450.
- Venture capital interest noted by angel investor James Ross, highlighting TAO's value in AI and crypto development.
- Introduction of subnet tokens could present significant investment opportunities, with predictions of 50–100x gains for select tokens.
- Analyst Michael van de Poppe supports holding TAO, suggesting a retest of low $400 levels may lead to substantial price increases.
- Another analyst forecasts new all-time highs with $370-$350 as a favorable buy zone.
- Current Relative Strength Index (RSI): 55.36 indicates bullish momentum; MACD remains positive with strong buyer demand.
Source: TradingView