Bittensor (TAO) Eyes 300% Gain as Bullish Reversal Nears

Bittensor (TAO) is currently exhibiting signs of a potential bullish rebound, according to recent technical analyses shared by market analysts. Despite the current market softness, the price structure of TAO suggests that the correction phase may be nearing its end, with analysts closely monitoring for a breakout that could initiate a strong upward trend.

Crypto trader Osemka has outlined a scenario based on Elliott Wave principles, which indicates significant upside potential if key confirmation signals emerge in the coming days. The Bittensor chart displays a complete five-wave advance, typically labeled as Wave 1 in Elliott Wave Theory. This movement pushed TAO near $460 before retracing into a corrective A-B-C pattern. Traders are now focusing on a potential Wave 2 bottom forming around the $235 to $265 range.

The Relative Strength Index (RSI) supports this structure, having trended down sharply since the top. Analysts believe the RSI could signal a reversal near the end of the month or early July. Osemka suggests that bullish divergence on the daily RSI might align with a final low, reinforcing the bullish setup. He anticipates a sudden drop driven by market fear before the recovery begins, describing this phase as a likely “disbelief phase,” which typically defines the end of Wave 2. This phase would shake out weaker positions before the price reclaims strength.

The expected drop is seen as a critical buying zone. If accompanied by bullish divergences, this area would offer high-reward setups for long positions. Investors will likely watch for RSI and price trendlines to break out upward, signaling the start of Wave 3. According to the shared analysis, Wave 3 could offer gains over 300% from the local bottom. Since the first wave rose by 190%, the next leg must outperform to preserve wave structure. In Elliott Wave logic, Wave 4 cannot drop below the top of Wave 1, requiring Wave 3 to extend strongly. This projection places the next major peak above TAO’s previous high. If the structure holds, a breakout above current levels could mark the beginning of a sustained bullish cycle.

At the time of writing, Bittensor (TAO) trades at $353.63 with a 24-hour decline of 1.14%. Over the past seven days, the asset has dipped by 4.73%. Despite this pullback, TAO remains within its expected range, keeping the bullish thesis intact. The market now watches closely for final signs of reversal. If confirmed, Bittensor could soon enter its next impulsive phase, positioning it as a strong contender in the ongoing crypto cycle.