TAO Shows Promising Signs of a Major Bullish Shift
TAO, the Bittensor token, is showing signs of breaking free from its prolonged bearish trend. A recent surge has broken through a key resistance level, hinting at a potential 200% rally towards its previous high.
For weeks, TAO was stuck in a downtrend, with prices consistently falling. Though,the recent move has broken this pattern. The price is now near a critical zone where several technical indicators converge. If buyers can hold this level, it could signal a strong bullish move.
- TAO has broken the most recent lower high, suggesting a trend shift.
- Price is testing the 0.618 Fibonacci level,which aligns with the VWAP from the top of the downtrend.
- This zone, where the point of control, VWAP, and 0.618 Fib intersect, is crucial for a potential bullish impulse.
From a technical view, this zone is highly notable. If TAO forms a higher low here, it could trigger a strong bullish wave. This would target the previous range high, suggesting a 200% rally from the current level.
On a broader scale, TAO is still within a large sideways range. The recent bounce from the low shows buyer interest. If TAO consolidates above this zone and forms a bullish structure, the chances of a full range rotation increase.
TAO is at a critical point. If the higher low confirms, the bullish case strengthens. A prosperous retest could spark a powerful move, offering one of the clearest 200% setups in the market.
