Bittensor (TAO) price is recovering after withstanding sustained selling pressure and reclaimed levels around $242 with over 13.5% rise in the past 24 hours. The volume has also increased by more than 91% to reach close to $280 million. The token surged sharply over the past session, reclaiming an important technical level and reigniting speculation that the recent correction may be nearing its end.
With this surge, the TAO price has landed in a crucial price range, breaking which may validate the beginning of a fresh ascending trend. The next few sessions could determine whether this move develops into a larger breakout or fades into another temporary relief bounce.
Bittensor (TAO) has staged a sharp recovery after finding buyers at a crucial long-term support trendline just below $200. As bulls attempted to gain control, the price surged above $240, piercing through the local resistance at $216. Despite the rise, the broader market sentiments remain mixed as the rally is yet to validate the prevailing bullish divergence.
The RSI spiked to 50 as the momentum briefly shifted from bearish to bullish, while the DMI is showing signs of a bullish crossover. This suggests that buyers are slowly becoming more active, but the decisive bullish trend is yet to be confirmed.
The first resistance level to watch is between $258 and $260, and a breakout beyond this range may push the price towards $300. If the traders book profit, the support at $216 may offer a base, aiming to prevent a drop below $200.
TAO has delivered one of its strongest rebounds in recent weeks, supported by improving momentum indicators and stronger buying activity. The recovery suggests that bearish pressure is easing and that buyers are attempting to regain control.
However, the token remains below major resistance levels, and if buyers can break above the $270 region, it may eventually reclaim $300. Until then, the Bittensor price is believed to remain consolidated around $280.
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