TAO's Halving-Driven Scarcity Sparks Bull Run, $900 Target Looms
TAO, the native token of the BittensorTAO-- decentralized AI network, has shown renewed bullish momentum amid key technical developments and analyst projections. As of the latest data, TAOTAO-- trades at $325.71, consolidating within a $300–$320 support zone that has repeatedly absorbed selling pressure [1]. This base-building phase aligns with a bullish pennant pattern on the weekly timeframe, forming below the 0.618 Fibonacci retracement level. Analysts suggest a potential breakout above $345–$355 could trigger a rally toward $440–$480, with liquidity thinness up to $700 reinforcing $900 as a major psychological target [1].
Short-term volatility has eased, with 24-hour trading volume declining 8.15% to $131.33 million [1]. However, momentum indicators signal stabilizing dynamics: the Relative Strength Index (RSI) at 46.53 suggests rangebound trading, while narrowing MACD histogram bars indicate waning bearish pressure [1]. A decisive move above $400 could validate a broader bullish case, with analysts from CryptoPatel and AlphaALPHA-- Crypto Signal highlighting $500–$500 as immediate resistance and $700–$900 as extended targets .
The token's resilience has defied broader market corrections, particularly as it approaches its December halving event. This scheduled reduction in daily token issuance from 7,200 to 3,600 tokens is expected to create scarcity-driven upward pressure, assuming sustained demand . Quinten | 048.eth noted that TAO's performance contrasts with market-wide corrections, with the token maintaining steady growth ahead of the halving .
Community sentiment remains overwhelmingly bullish, with 83% of voters expressing confidence in TAO's long-term trajectory . This aligns with technical analyses from multiple experts, including Captain Faibik, who identified a broadening wedge pattern suggesting explosive upside potential . On-chain data also shows increasing hash rate and network activity, reinforcing the case for a sustained rally.
Key resistance levels remain critical to monitor. A breakout above $450–$480 could open the door to $515–$525, with further targets at $600 and beyond [2]. Conversely, a failure to hold above $360 on the weekly chart would invalidate the bullish structure, potentially dragging prices back to the $240 level [2].
The broader market context adds nuance to TAO's outlook. While BitcoinBTC-- and EthereumETH-- have driven overall crypto market sentiment, TAO's performance has remained relatively insulated from corrections, supported by its unique positioning in the decentralized AI sector . Analysts like Alex Clay highlighted a Cup and Handle pattern forming above $405–$425, with conservative price targets at $1,158 and $1,770 .
Technical indicators remain mixed but improving. The MACD line crossing above the signal line on the daily chart suggests a potential bullish crossover, while the RSI's approach to the 50 threshold signals strengthening buyer momentum . These developments, combined with growing institutional interest in AI-driven blockchain applications, position TAO for a critical phase of price discovery.
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