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<p><a href="https://captainaltcoin.com/bittensor-price-surges-how-high-can-tao-go-key-levels-to-watch/" target="_blank" rel="noopener noreferrer nofollow">The Bittensor (TAO) price</a> pumped 22% overnight, quickly climbing from $552.24 to $677. This means that TAO’s market cap is now well above $4.5 billion.</p>
<p>Despite hitting this resistance, TAO is currently trading around $622.24. This sharp rise has captured the crypto community’s attention, with some analysts predicting even higher levels on the horizon.</p>
<p>Crypto analyst GonzoXBT weighed in on the situation around TAO, sharing his insights on the recent price action and market trends.<br><br>He stated<a href="https://captainaltcoin.com/bittensor-tao-price-rally-just-getting-started-multiple-indicators-turn-bullish-heres-the-outlook/" target="_blank" rel="noopener noreferrer nofollow"> the Bittensor (TAO) price</a> kicked up to $677 overnight, suggesting a compelling upward momentum. However, a minor pullback could be expected before a potential move toward $1,000.</p>
<h2 class="wp-block-heading" id="bittensor-tao-key-support-zones-provide-strong-foundation">Bittensor (TAO) Key Support Zones Provide Strong Foundation</h2>
<p>The Bittnesor TAO price surge has been backed by strong support levels, notably at $575, marked as a key “weekly cluster” on the Bittensor chart. This area has acted as a foundation for the recent upward movement.&nbsp;</p>
<p>Additionally, the $500 level, which is mentioned in GonzoXBT’s tweet as a buying point during market fear, has been another critical support zone.</p>
<p>Lower down, support clusters at $350 and $275 represent historical price levels where buyers could step in if TAO were to experience a more significant correction. However, with the recent rally, these lower zones appear less likely to be tested in the near term.</p>
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<h2 class="wp-block-heading" id="677-resistance-holds-firm-small-dip-expected">$677 Resistance Holds Firm—Small Dip Expected</h2>
<p>The $677 level, where TAO kicked overnight, is a formidable resistance. The TAO price will likely face challenges breaking through this area without a period of consolidation or a small dip. The TAO chart suggests that a pullback to around $600 could happen before the next move higher.</p>
<p>Analyst GonzoXBT expects this dip to be short-lived, predicting a rapid move or “teleport” to $1,000 once this phase is complete. The tweet highlights a confident bullish sentiment in the market, backed by strong price action and growing buying interest.</p>
<h2 class="wp-block-heading" id="uptrend-remains-intact-amid-bullish-sentiment">Uptrend Remains Intact Amid Bullish Sentiment</h2>
<p><a href="https://coinmarketcap.com/currencies/bittensor/#Chart" target="_blank" rel="noopener noreferrer nofollow">The TAO price</a> chart shows a clear uptrend, which began in late September, with higher highs and higher lows forming a bullish structure. As the price respects support zones and rebounds from key levels, the overall trajectory suggests that a continuation of the upward movement is likely.</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="431" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-251-1024x431.png" alt="" class="wp-image-562918" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-251-1024x431.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-251-300x126.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-251-768x323.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-251-1536x646.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-251-2048x861.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-251-357x150.png 357w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-251-100x42.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-251-832x350.png 832w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-251-788x331.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-251.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Image Source: <a href="https://x.com/GonzoXBT/status/1843219132243968505" target="_blank" rel="noopener noreferrer nofollow">X/GONZO</a></em></strong>
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<p>GonzoXBT’s tweet echoes this bullish outlook, suggesting that the next major move could take TAO’s price beyond its recent highs. While the immediate future may bring a small dip, the general sentiment remains positive, with traders anticipating a breakout that could push the price significantly higher.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/5-reasons-sui-token-could-become-a-top-10-cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">5 Reasons SUI Token Could Become a Top 10 Cryptocurrency</a></em></strong></p>
<h2 class="wp-block-heading" id="could-bittensor-tao-price-breakout-to-1-000">Could Bittensor (TAO) Price Breakout to $1,000?</h2>
<p>The projection on the Bittensor chart, supported by GonzoXBT’s analysis, suggests that TAO could see a breakout beyond $677, with a potential target of $1,000. The key factors will be how the market handles the current consolidation phase and whether buying momentum continues to build.</p>
<p>The next few days will be crucial in determining whether TAO can maintain its bullish trajectory or whether a more extended consolidation phase is necessary before further gains are realized. As it stands, TAO remains a token to watch closely.</p>
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<p>The post <a href="https://captainaltcoin.com/bittensor-tao-price-explodes-with-a-22-jump-is-a-major-breakout-on-the-horizon/" rel="noopener noreferrer nofollow">Bittensor (TAO) Price Explodes with a 22% Jump—Is a Major Breakout on the Horizon?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bittensor (TAO) Price Explodes with a 22% Jump—Is a Major Breakout on the Horizon?

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