Bittensor (TAO) Surges 6% Breaking $400 Mark

Bittensor (TAO) has recently made a significant move, breaking past the $400 mark and reaching approximately $420. This surge marks a notable shift from the previous downward trend, with the price increasing by 6% and trading volume jumping by over 80%, indicating a renewed interest in the cryptocurrency. Top analyst Crypto Rand had previously identified this zone as a major resistance line, and its recent breach suggests a potential for further upward movement.

The question on many investors' minds is whether Bittensor is poised for a run toward $1,000 before the end of the year. Earlier this year, TAO's price was near $720, but it has since been in a broad downtrend. However, the recent strong bounce from the $220 lows in June has cracked the trendline connecting all the lower highs, opening up new possibilities for price movement.

The price surge has taken Bittensor into a heavy resistance zone between $390 and $415, an area where it faced rejection twice before in April and May. This time, however, buyers did not back off, and TAO is now trading above this range. The next key zones to watch are $500–$520, and if that clears, the $620–$650 zone could be the next target if momentum continues to build.

The chart structure of TAO suggests that buyers are currently in control. The cryptocurrency formed a double-bottom around the $200 level and has been printing higher lows since mid-June. Recent candles are pushing steadily higher, with little sign of selling pressure. If TAO holds above $415, the breakout is confirmed, and a push toward $500 becomes more likely. However, if sellers take over, a drop back to the $280–$300 zone could follow, with the $260–$280 range remaining key support for now.

The long-term target for TAO, according to the chart, is $1,000, a psychological milestone that could come into play if the price clears $620. To reach this target, TAO needs to flip $500 into support and attract fresh volume. On the downside, if momentum fades, traders will watch $280 and $260 for possible rebounds. A breakdown below $260 would open the door for a retest of the $200 floor.

TAO's price has cleared a major hurdle, with the break above $400 supported by strong structure and growing volume. This has shifted the technical picture in favor of the bulls. Whether TAO can reach $1,000 this year remains to be seen, but as long as $415 holds, the bulls have the upper hand. The recent price movement of Bittensor highlights the potential of decentralized networks and their role in the future of technology. As the cryptocurrency market continues to evolve, investors will be closely monitoring the performance of Bittensor and other digital assets for potential growth and investment opportunities.