The MACD is showing early signs of a bullish crossover from deeply negative territory. Histogram bars are shrinking, suggesting bearish momentum is weakening. This often precedes a relief rally or short-term trend reversal. Volume expanded during the recent bounce, indicating genuine buying interest rather than a weak dead-cat bounce. However, sustained upside requires continued volume expansion on breakout attempts.
$200 can be considered as a psychological level that may further push the rally towards the demand zone between $220 and $230, if secured in time. Although the pivotal resistance zone around $300 is distant, the price range between $120 and $217 may act as a strong base and trigger a strong upswing.
Can the Bittensor (TAO) Price Reach $500?
The Bittensor price is displaying strength, but a weekly close above $200 is mandatory to keep up the bullish trend. With this, the rally may enter the bullish range, raising the possibility of a V-shaped recovery to the neckline around $300. Only a sustained rise above this range may increase the possibility of a strong upswing to $500; otherwise, the TAO price may remain consolidated below the range until the required volume kicks in.
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