Bittensor (TAO) targets $400 after 17% surge despite exclusion from NVIDIA Inception program
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The Bittensor (TAO) price has soared 17.9% over the past week, according to CoinGecko data.
This impressive rally has sparked widespread interest among investors and analysts as TAO sets its sights on the $400 milestone.
Remarkably, this surge persists despite NVIDIA’s recent decision to bar crypto-related projects from its esteemed Inception program.
Why is Bittensor price rising?
The upward momentum in Bittensor’s (TAO) price stems from a series of transformative developments within its ecosystem.
A standout advancement is the Dynamic TAO (dTAO) update, which has invigorated the subnet ecosystem by intensifying competition and sparking innovation.
This has pushed subnets to refine their offerings, elevating the overall quality of products and models tied to the TAO token.
Equally impactful is the rollout of Subnet-Subnets (SSNS), a feature that empowers subnets to spawn independent entities like AI agents or workflows.
Hailed as a game-changer for developers, SSNS unlocks modular, scalable, and interconnected systems, all seamlessly integrated under the TAO framework.
Community involvement has further fueled this price ascent.
The Bittensor Endgame Summit and Hackathon have energised developers and enthusiasts, fostering a wave of collaboration and creativity across the platform.
Beyond Bittensor, the AI token sector as a whole is demonstrating robust staying power.
Despite NVIDIA’s exclusionary stance toward crypto projects, tokens like TAO, FET, and AI16Z continue to hold strong, reflecting growing faith in the fusion of AI and blockchain technology.
TAO price analysis
Technically, TAO’s price movement hints at a potential shift away from its prior bearish trend.
Previously trapped in a pattern of lower highs and lower lows, the token has now breached a key lower high, suggesting a possible bullish turnaround.
At present, TAO is probing a vital confluence zone that aligns the 0.618 Fibonacci level, the anchored Volume Weighted Average Price (VWAP), and the Point of Control (POC).
Holding this zone and forming a higher low could ignite a powerful upward move, potentially driving a 200% rally toward the upper boundary of its historical range.
On a broader scale, TAO remains within a wide sideways range, with recent rebounds from the range’s lower end pointing to solid buying support.
Should the price stabilise above this confluence and cement a bullish structure, a full climb to the range high becomes increasingly plausible.
Caution is warranted, however, as a slip below the $399 support could derail this optimistic outlook.
Such a drop might push TAO toward $316 or deeper, contingent on broader market dynamics.
Adding to the bullish case, the Relative Strength Index (RSI) is climbing steadily, currently at 57, indicating room for further gains before nearing overbought conditions.
Trading volume has also spiked, with an 87.82% jump in the last 24 hours, underscoring heightened interest and activity in TAO.
Looking ahead, the $500-$587 resistance band is a critical hurdle to watch. A decisive break above this could herald a fresh bullish phase, with sights set on $740 or higher.
Conversely, a failure to defend the $346.59 support level might revive bearish pressures, potentially dragging the price down to $303.99 or below.
Ultimately, the path to $400 and beyond hinges on buyers securing the current confluence zone, positioning TAO as a standout opportunity in today’s market.
The post Bittensor (TAO) targets $400 after 17% surge despite exclusion from NVIDIA Inception program appeared first on Invezz
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