TAO Price Set for a 30% Surge as Bullish Patterns Ignite Investor Optimism
29.04.2025 12:10
TAO’s price is on a bullish run after breaking out of key technical patterns, with analysts predicting a further 30% climb. The coin reached an intraday high of $388 on April 28 before settling around $372 at press time, marking an 18% gain over the past week and a 120% rise from its monthly low. Trading volume has surged by 87% compared to the previous day, and futures open interest hit a three-month high, underscoring growing market confidence. Technical indicators such as an ascending channel, a rising Chaikin Money Flow, and a recently formed EMA golden cross all point to continued upward momentum. Additionally, renewed interest following Grayscale's spotlight on Bittensor Trust has added institutional credibility. Overall, these factors contribute to a sturdy bullish sentiment that could propel TAO to test major resistance levels, with some analysts eyeing targets around $485 if the current trend persists.
The news highlights several bullish factors for TAO, including a technical breakout from a falling wedge, increased trading volume, higher futures open interest, and a golden cross formation, all of which point to strong upward momentum. Institutional interest from Grayscale further boosts investor confidence. In the short term, these indicators could lead to immediate price surges, while the potential for a breakout above key resistance levels like $400 and $485 suggests the possibility of sustained long-term gains. Quantitative signals such as a 12% jump to an intraday high and an 18% weekly gain underpin a positive outlook.