Bittensor (TAO) Nears $400 After 10.5% Surge as Market Tests Key Resistance
- Bittensor (TAO) increased 10.5 percent within 24 hours, at the price of $393.70, with the most significant resistance of $397.55 and support of $356.12.
- The daily chart shows that there is an attempt at breaking out above a long-term downward trendline backed up by regular rebounds on the bottom end.
- The movements in the tight price range of between $356 and $397 are an indication of an impending volatility as the traders evaluate the volume power and short-term market trend.
Bittensor (TAO) has reported a robust performance during the current session, and it has been moving higher across the major chart resistance. The price of the asset increased by 10.5 percent in the last 24 hours to a new price of $393.70, which is an indication of new buyer activity following recent consolidation.
Its Bitcoin pair also increased by 5.6 percent and it was trading at around 0.003703 BTC. The session’s momentum positioned TAO just below its immediate resistance at $397.55, with a defined support base around $356.12. Market data indicated that traders maintained focus on whether the current breakout could sustain above the upper boundary.
Price Action and Trading Range
This 24-hour variety provided Bittensor with a range of between $356.12 and $397.55 with manipulated volatility in a narrowing price band. This range has continued to play a role in the short term positioning since market players have been in a position to determine the sustainability of the existing demand.
Price movement around the $390 zone also reflects a steady push away from previous consolidation points seen earlier this month. Notably, repeated rebounds near the lower support line have contributed to improving short-term sentiment, although broader momentum remains under evaluation.
Chart Structure and Technical Levels
Chart data from the daily timeframe shows TAO attempting to confirm a breakout above a prolonged descending trendline. The price’s ability to stay above the $356 level has served as a stabilizing factor through recent sessions. The resistance level near $397.55 continues to act as a critical ceiling for intraday traders. However, repeated tests of this threshold have begun to narrow the spread between support and resistance. This compression often precedes heightened trading activity, which may influence short-term direction.
Market Context and Outlook
Trading behavior over recent days highlights moderate volume with incremental upward pressure. Market observers have noted that holding above $356.12 may help preserve structural stability. If price consolidation persists near current levels, participants may monitor upcoming sessions for range expansion. The price remains positioned between firm support and capped resistance, leaving the market’s next phase dependent on volume and liquidity conditions.
