Bittensor Price Soars 13% as Technical Indicators Flash Bullish – Analyst Foresees a Rally to $1340

Highlights:

• Bittensor price spikes 13% to $264, as bullish momentum soars. 
• Its daily trading volume has soared 64%, indicating a healthy momentum in the TAO market.
• Technical indicators flash bullish, as analyst predicts a rally to $1350

Bittensor price has spiked 13% to the $264 mark, as the buying pressure in the market bolsters. The noticeable movement is accompanied by the surge in trading volume, which has soared 64% to $133.57 M. This suggests a recent rise in market activity, hence investor confidence. 

With recent bullish momentum, various investors are optimistic about potential upside in the TAO market. According to a crypto analyst Edward, he has noted a strong V-shaped recovery from sub $190-$261.

In his 2-hour chart analysis, TAO token’s volume is rising with the price, indicating a healthy momentum. Further, the Bittensor price is retesting prior highs, hinting at a potential breakout. Furthermore, the analyst has highlighted that if the TAO token holds above the $250 support area, the bulls will still be in control.

$TAO: strong V-shaped recovery from sub-$190 to $261.

Volume is rising with price, suggesting healthy momentum.

Price is retesting prior highs, hinting at a breakout attempt.

Eyes on $265 resistance. Holding above $250 keeps bulls in control! pic.twitter.com/7ehni7drMz

— Edward (@Defi_Edward) April 18, 2025

On the other hand, Crypto General speculates a bullish rally to $$1340 in the near future. He has noted that Bittensor is gaining good momentum and has regained a major support level. The next major resistance that can be seen is around $760, which would be my first target. After that, the second target would be around $1340.

$TAO is gaining good momentum and has regained a major support level.

Expecting some big pumps in the coming days. The next major resistance that can be seen is around $760 which would be my first target and after that the second target would be around $1340. pic.twitter.com/VINhjKvJl4

— Crypto General (@DaCryptoGeneral) April 17, 2025

Bittensor Price Outlook

The Bittensor price has pushed to the consolidation channel, as the bulls aim to break out soon. Currently, the TAO token upholds a splendid bullish muscle, spiking 13% to $264. Moreover, the bulls have flipped the $251 area, aligning with the 50-day MA into a support level, giving bulls wings for potential upside. If the support level holds and the buying appetite soars, the Bittensor price could spike toward the $300 mark. 

Meanwhile, the bulls have painted a bigger picture as bullish in the market. This is reinforced by the bullish technical indicators, which portray a potential upside. To start with, the Relative Strength Index (RSI) sits at 57, indicating growing buying pressure. Moreover, there is still more room for the upside before the TAO token is considered overbought. Moreover, the RSI’s position above the 50-mean level indicates that the bulls have the upper hand. 

The MACD indicator notably shows rising momentum as it hurtles toward the positive territory. The green histograms are also increasing in size, indicating growing bullish momentum. At the moment, traders and buyers are at liberty to buy more TAO tokens, reinforced by the bullish MACD indicator. 

If the bulls increase their buying appetite at this level, Bittensor’s price could surge toward the $300, $364, and $436 resistance keys. A decisive close above these levels will rekindle more upside, invalidating the bearish sentiment. 

On the downside, the $436 resistance mark indicates some bearish prospects in the market. If the resistance mark proves too strong, and early profit-taking resumes, the Bitternsor price could drop. In such a case, the $251 support area will be the safety net absorbing the selling pressure. A breach below this level will cause deeper correction toward $228, $193, and 173 will act as support levels. In the meantime, a strong candle close above the $300 zone with increasing volume will strengthen the bullish case.