Crypto investors are taking notice as Bittensor (TAO) leads the latest rally in blockchain assets, posting an impressive 70% monthly gain following the stealth launch of a new liquid fund. The price surge follows a break from a long-term falling wedge chart pattern, putting fresh focus on next resistance levels and wider market sentiment.
Bittensor’s upward momentum began in early April with TAO rebounding from $180 and swiftly attracting trading volume. By April 16, an undisclosed crypto liquid fund quietly launched, attracting new investors and sparking even more speculative activity around Bittensor tokens. Expert analysts point to this event as a pivotal catalyst, breathing new life into the crypto token and overall DeFi sector.
By late April, TAO demonstrated further strength. Technical indicators turned strongly bullish, with the 20-day EMA overtaking the 50-day SMA—a signal favored by many active traders. After breaking through the wedge’s upper resistance on April 22, Bittensor soared, logging 110% gains from the breakout point. Despite this sharp uptrend, the price has started consolidating around $369, with key support holding near $335, according to current blockchain data.
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As price action cools, some short-term momentum indicators such as the RSI have eased from overbought territory, now resting at 63. Meanwhile, the MACD histogram has begun showing signs of slowing bullish momentum. Nonetheless, the long-term structure remains intact as the 20 EMA stays above the 50 SMA. Should Bittensor maintain support above $335, analysts expect the rally to persist, possibly targeting $390 and, in extension, $420—a zone that previously rejected price earlier in the year.
If buyers manage to propel TAO above the $420 resistance with substantial trading volume, the market could see another leg up, with $460–$470 as the next likely resistance cluster. This area, established by historic price action at the start of the year and again in late April, remains a focal point for bullish traders.
The broader AI and DeFi sectors are also gaining momentum. Virtuals Protocol (VIRTUAL) has jumped 60% after overcoming its recent trading range, while Aixbt (AIXBT) notched a 110% increase after breaking key resistance. These moves underline growing investor confidence in blockchain-powered AI tokens amid expanding interest in crypto markets.
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With technicals favoring buyers and sentiment heating up across digital assets, Bittensor’s next moves could set the tone for what’s next in the evolving world of crypto tokens.