Bittensor

Date: Wed, Dec 04, 2024, 07:10 AM GMTIn today’s cryptocurrency market, bullish rallies continue to dominate as major altcoins capitalize on Bitcoin’s (BTC) declining dominance, which has dropped to 55.18% from its recent high of 61.53%. Amid this shift, Bittensor (TAO)—a prominent token from the AI narrative—has emerged as a standout performer, surging by over 13% to reach $708. Its market capitalization now stands at $5.23 billion.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/612b83e0d3714c62bddf561df477aa3a.png" /><h3 id="key-resistance-breakout">Key Resistance Breakout</h3>On November 29, TAO broke out of a symmetrical triangle pattern at $587, signaling the start of a bullish phase. Following this breakout, it reached a key resistance level of $679. However, after testing this resistance, TAO retraced to its breakout level of $587, successfully retesting the support. Today, the token rallied past the $679 resistance level, marking a significant bullish breakout (indicated by the blue line on the chart).<img src="https://academy-public.coinmarketcap.com/optimized-uploads/193331e87f6b40feae4b5da6ebb775ef.png" /><h3 id="is-a-new-ath-on-the-horizon">Is a New ATH on the Horizon?</h3>This breakout has propelled TAO to its current price of $708. From here, two potential scenarios emerge:<ol><li>Retest: TAO may consolidate or retest the $679 breakout level before making another upward move.</li><li>Direct Rally: The bullish momentum could take TAO directly toward its next resistance level of $767, which marks its all-time high (ATH).</li></ol>If TAO successfully breaks above $767, a fresh leg up could drive the price beyond $1,000, signaling a powerful continuation of its bull cycle.With Bitcoin dominance declining and investor interest shifting toward altcoins, Bittensor (TAO) is positioned to gain further traction in the ongoing market rally.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/bnb-gains-bullish-momentum-following-new-ath-is-the-rally-started/" rel="noopener noreferrer nofollow">BNB Gains Bullish Momentum Following New ATH: Is The Rally Started?</a>

Bittensor (TAO) Gains Momentum With Key Resistance Breakout: Is A New ATH On Horizon?

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