Bittensor (TAO) Bounces Back: Eyes $400 Target After Falling Wedge Breakout

• Bittensor (TAO) is rebounding with a 13.93% gain in the last 24 hours after a recent 30% decline.
• The token is testing a falling wedge breakout, which could trigger a major rally.
• Clearing key resistance may push TAO toward the $400 target.
• Bitcoin’s market recovery is providing strong support for TAO’s upside momentum.

Bittensor (TAO) is showing strong signs of recovery after enduring a turbulent period that dragged its price to significant lows. The AI-focused blockchain project recently hit a low of $213, marking a sharp 30% decline over the past month as the broader crypto market struggled with bearish momentum. Even in the last seven days, TAO remained under pressure, recording an 11% drop as market uncertainty persisted.

TAO Rebounds as Crypto Market Turns Bullish

After months of downward pressure, the crypto market is experiencing a renewed wave of buying activity, largely fueled by Bitcoin’s recent bounce. BTC’s recovery has provided much-needed relief to altcoins, allowing them to regain lost ground. Bittensor, in particular, is benefiting from this shift, making a strong push toward recovery.

At the time of writing, Bittensor (TAO) is trading at $251.79, up 13.93% in the last 24 hours. The token’s 24-hour trading volume stands at $513.24 million, with a market capitalization of $2.13 billion. This strong upside movement indicates growing investor confidence and increasing momentum for a potential trend reversal.

Source: CoinMarketcap

Can TAO Break Key Resistance and Target $400?

Technical analysis suggests that TAO has successfully bounced off a critical support level, potentially signaling the end of its three-month-long downtrend. Crypto traders are closely watching the price action, with a key resistance lying ahead.

According to World Of Charts, TAO is currently testing the falling wedge trendline, a historically bullish pattern. If the token successfully breaks out of this formation, it could pave the way for a major rally, with $400 as the next potential target.

Bittensor (TAO) Bounces Back: Eyes $400 Target After Falling Wedge Breakout 4

Despite the promising outlook, TAO still needs to confirm a breakout to sustain its bullish momentum. Traders are advised to watch for increased buying volume and a decisive close above resistance levels before confirming further upside potential.

Bittensor’s recent rebound highlights its potential for recovery after months of bearish pressure. With Bitcoin leading the charge in the broader market uptrend, TAO could be positioned for further gains if it successfully clears key resistance levels.

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