Major

Bittensor

Spike

Show

<p>Jeff Sekinger articulates a<a href="https://captainaltcoin.com/bittensor-price-eyes-rally-can-tao-hit-640-target/" target="_blank" rel="noopener noreferrer nofollow"> bullish outlook on Bittensor (TAO)</a>. He asserts that TAO has only just initiated a significant upward movement. Drawing from historical data, he notes that each time the Relative Strength Index (RSI) reaches 70 on the three-day chart, the price tends to surge dramatically.</p>
<p>For instance, after the first RSI hit 70, TAO experienced a remarkable 382% increase, and the second instance saw a 115% rise. This raises the question: what price action might we expect this time around?</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">I believe <a href="https://twitter.com/search?q=%24tao&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$tao</a> has just begun its major move. Every time it becomes overbought on the 3d chart, it continues to run another triple digits higher. First time rsi hit 70 it ran another 382% and second time it ran another 115%. What will this time bring? <a href="https://t.co/eSeOnD55Zw" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/eSeOnD55Zw</a></p>— Jeff Sekinger (@JeffSekinger) <a href="https://twitter.com/JeffSekinger/status/1840479536649290163?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 29, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p><a href="https://x.com/donniexbt/status/1840639952134050157" target="_blank" rel="noopener noreferrer nofollow">Donnie, another analyst,</a> adds further context, pointing out that TAO is currently priced at approximately $600, with neither a Coinbase listing nor Bitcoin having entered its price discovery phase. He prompts his audience to consider the implications of these factors, suggesting that the price could “fill the wick,” referencing the prior spike where TAO soared above $1,000.</p>
<p>Donnie’s Bittensor chart reveals several key observations. Currently, TAO is valued at around $598, reflecting a 6.72% increase. Earlier in the year, the price experienced a significant spike above $1,000, but quickly retraced, leading to a period of consolidation that saw the price range between $400 and $500 for several months. Recently, however, it has broken out from this range and is trending upward.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/bittensor-price-eyes-rally-can-tao-hit-640-target/" target="_blank" rel="noopener noreferrer nofollow">Bittensor Price Eyes Rally: Can TAO Hit $640 Target?</a></em></strong></p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Celebrate Dogecoin and Make Big Gains with Doge2014!
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://doge2014.io" target="_blank" rel="noopener noreferrer nofollow">Doge2014</a></strong> raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on <strong><a href="https://doge2014.io/en/airdrop" target="_blank" rel="noopener noreferrer nofollow">exclusive airdrop</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="541" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-758-1024x541.png" alt="" class="wp-image-562075" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-758-1024x541.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-758-300x159.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-758-766x405.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-758-1536x812.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-758-2048x1082.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-758-284x150.png 284w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-758-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-758-662x350.png 662w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-758-788x416.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Donnie | X
 </figcaption>
</figure>
<p>Support levels are clearly identified, with a defined zone between $400 and $500, where the price has previously bounced back. A lower support level exists around $200, which could act as a safety net in the event of a sudden drop.</p>
<h2 class="wp-block-heading" id="a-tao-price-spike-to-700-and-then-1-200">A TAO Price Spike to $700 and Then $1,200</h2>
<p>The <a href="https://blog.obiex.finance/the-importance-of-support-and-resistance-levels-in-crypto-trading/" target="_blank" rel="noopener noreferrer nofollow">next major resistance</a> appears around the $700 mark, which is also the target for short-term upward movement. The highest wick from earlier spikes reaches up to about $1,200, indicating a significant resistance point.</p>
<p>The chart further suggests that TAO may consolidate around the $500-$600 region before making another push towards $700 and beyond. Donnie’s commentary recognized the impact of external catalysts, such as a Coinbase listing and Bitcoin’s performance. He implies that should Bitcoin begin to rally into new highs, it could spur additional upward momentum for TAO.</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://memesarcade.com/?ref=CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/20-Economic-Times-Is-Bittensor-TAO-price-rally-sustainable-Heres-one-new-crypto-to-consider-qumyphz0cn8kryb4yw6e8oixgxuf3o98hkan9wd4wu.png" width="500" alt="Join and Get 10k Tokens FREE!" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-memesarcade-com-ref-captainaltcoin-target-_blank-rel-noopener-noreferrer-nofollow-span-join-and-get-10k-tokens-free-span-a"><a class="re_track_btn" href="https://memesarcade.com/?ref=CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow"> <span>Join and Get 10k Tokens FREE!</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Sponsored</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://memesarcade.com/?ref=CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow"> Visit Meme Arcade by FOFAR Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Early access bonuses with 10k $BACON for joining now <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Engaging community with games and crypto incentives <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Integrated platform with GameFi and NFT functionalities <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Simple interface that’s easy for new users to explore crypto gaming
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/key-bittensor-tao-metric-suggests-major-move-has-just-begun-analyst-points-to-next-price-target/" rel="noopener noreferrer nofollow">Key Bittensor (TAO) Metric Suggests Major Move Has Just Begun: Analyst Points to Next Price Target</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Key Bittensor (TAO) Metric Suggests Major Move Has Just Begun: Analyst Points to Next Price Target

Table of Contents

CaptainAltcoin

Other articles published on Sep 30, 2024

Russia Outpaces U.S. in Crypto Mining Growth, Says BitRiver CEO

Qubetics is Democratising Investment Opportunities Through Blockchain Tokenisation

FTX Token (FTT) Price Explodes 60% Amid Payout Rumors, But What’s Next?

Hamster Kombat down 59% after airdrop

Reental Expands into Latin America, Offering Tokenized Real Estate Investments

Another Vitalik Buterin funded wallet dumps 1,300 ETH in 11 days

Join our free newsletter for daily crypto updates!