The post Bittensor (TAO) Price Rally Eyes Resistance Around $300: What Traders Should Know appeared first on Coinpedia Fintech News
With the start of 2026, Bittensor (TAO) price has come into the spotlight and picked up momentum this week. Following a long downtrend, TAO price has climbed above the 20 day EMA, signaling a trend shift.
At press time, TAO price trades at $277, with the market cap of $2.92 Billion. Notably, TAO price has gained over 12% this week.
Alongside the price uptick, the trading volume has risen exponentially which favors the upward momentum.
Rather than a sudden spike, TAO price has displayed follow-on buying pressure and took support above the $250 support zone.
What Do Bittensor (TAO) Price Chart Reveals?
TAO’s recent price surge appears to be driven by a mix of broader market recovery and a strong institutional trigger.
The market sentiment around the token improved following Grayscale moving forward with plans to convert its Bittensor Trust into an exchange-traded fund that could pave the way for a wider institutional exposure.
Alongside the positive developments, TAO price has moved out of monthly consolidation zone and escaped the 20 day EMA barrier, trading above the $250 support zone.
From a technical perspective, TAO price is eyeing to surpass the $280 followed by $300 hurdle. If TAO price can manage to chase the hurdles, it may reach the broader range’s high of $490 in the upcoming months.
Additionally, Michael Van De Poppe in his recent post highlighted post-halving, TAO has gained traction and looks interesting now.
It has moved above the 21-day MA and may run back to $500 in the next few months.
From the key indicators standpoint, indicators like the Average Directional Index (ADX) strengthens bullish momentum. Furthermore, the Relative Strength Index (RSI) has climbed above the neutral 50 mark and is trending upward, reinforcing the bullish momentum.
Furthermore, the MACD has confirmed a bullish crossover on the daily timeframe. The On- Balance Volume (OBV) has started to slope higher as well, pointing to steady accumulation behind the move.
Key Levels to Watch Out
If TAO price manages to trade with the bullish momentum, the next upside target of $280 followed by $300 could be seen ahead.
However, if bulls fail to hold the 20 day EMA support zone, TAO price may retest the support zone of $230 and $207 in the coming sessions.
Source: https://coinpedia.org/price-analysis/bittensor-tao-price-rally-eyes-resistance-around-300-what-traders-should-know/
