Can TAO Spark a Rally After This Retracement?
Currently, the price of TAO is trading around $273, showing a slight correction of approximately -0.4% over the past 24 hours. This pause comes after an impressive rally that propelled the asset to a local high of $306. The network isn’t just riding the hype: with 14,500 AI agents deployed, $43 million in Q1 revenue, and 75% of its supply in staking, the project is massively attracting “smart money”.
From a technical perspective, TAO has undergone a natural retracement after encountering strong resistance in the $302 – $310 zone. This level had already blocked buyers in January, triggering a pullback to cool down an overheated market. Currently, the price is testing a crucial support level at $273, which corresponds to the 7-day simple moving average (SMA).
The POC at $274 is crucial and must be maintained as support to hope for a bullish continuation. Otherwise, a return to $242 will be the most likely scenario in the short term.
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How High Can Bittensor (TAO) Price Go?
The $1,000 target is based on a long-term vision, fueled by the network’s recent halving that reduced daily token emissions. This supply shock, coupled with growing institutional demand, strengthens bullish prospects. If the bullish scenario confirms and TAO manages to break free from the resistance at $310, the path would be clear to target new highs, with an initial intermediate target around $340.
However, the bearish scenario should not be dismissed. The chart is still hitting its order block on the 16-hour timeframe and recalls the configuration from January 13th before its 50% drop to $150. TAO could therefore fall to around $135 if buyers fail again to break through $300.
The question remains: will buyers have the necessary strength to absorb selling pressure and propel TAO toward a new historic ATH?
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