Bittensor's TAO Confirms Falling Wedge Breakout, Analysts Eye 30% Upside Wave

Bittensor's TAO token has confirmed a breakout from a falling wedge pattern on the one-hour chart, signaling a potential trend reversal after weeks of downward pressure. The breakout occurred near the $360 zone, with price closing above the upper boundary and holding for several consecutive candles, indicating stronger upward momentum.

Current trading data shows TAO priced between $333.98 and $343.01, with a market cap of $3.44 billion and daily trading volume around $137.9 million. Key support is established at $330.12, while resistance sits at $345.95, creating a tight trading range post-breakout. Analysts, including Captain Faibik, project a possible 30% upward wave, targeting the $460 region based on the wedge's height applied to the breakout level.

Derivatives data from Coinglass reveals strong long participation, with a 24-hour long-short ratio near 0.96 and Binance accounts showing more active long positions. Liquidation figures recorded $178.39K in total losses, predominantly from long trades. Additionally, the upcoming Bittensor halving event, scheduled in 25 days from November 15, 2025, is closely watched for its potential to reduce block rewards and slow new token supply, influencing market behavior.