- Bittensor (TAO) has rebounded strongly after its Coinbase listing, breaking out from a descending parallel channel and reclaiming key support levels, suggesting a potential bullish trend.
- If TAO surpasses the $450 resistance, it could reach new highs of $700 or even $824, though a failure to hold above key levels may lead to further declines.
Bittensor’s (TAO) price has experienced a remarkable rebound following its listing on Coinbase, signaling a potential bullish trend. After months of correction, TAO has broken out from a descending parallel channel, fueling speculation that new all-time highs may be on the horizon.
TAO’s Strong Recovery
After reaching its all-time high of $782 in April 2024, TAO underwent a significant correction, culminating in a low of $237.97 on February 3, 2025. However, the token has demonstrated resilience, bouncing back and reclaiming the crucial $355 support level. This recovery was further strengthened by the announcement of its Coinbase listing, which provided an additional catalyst for price growth.
Currently, TAO is testing a key horizontal resistance area, and a successful breakout could accelerate its upward momentum. The next critical levels to watch are $530 and $700, which could act as potential price targets.
Is a Bullish Trend Reversal Confirmed?
Despite the strong price surge, technical indicators remain neutral. The Relative Strength Index (RSI) has reached 50, a crucial threshold that needs to be surpassed for a confirmed bullish trend. Similarly, the Moving Average Convergence/Divergence (MACD) indicator is at 0, meaning it has yet to provide a clear buy signal. However, if TAO continues to hold above the $355 support level, the overall trend remains bullish.
Breaking Out for New Highs
On the daily chart, TAO recently broke out from a descending parallel channel that had been restricting its growth for over two months. This breakout is a strong indicator that the downtrend is over and that a new upward movement is underway.
To solidify this bullish reversal, TAO must reclaim the $450 resistance area, a level that previously served as strong support. Encouragingly, the RSI has crossed above 50, and the MACD has made a bullish crossover, supporting a positive outlook for the price.
How High Can TAO Go?
If the next upward movement mirrors the previous price surge, TAO could potentially reach a new all-time high of $824. The current wave count analysis also suggests that the correction phase is complete and that a fresh bullish phase has begun.
However, any failure to hold above the breakout level and a fall back into the parallel channel could invalidate this bullish scenario, potentially leading to new lows.
Conclusion
TAO’s price action suggests that it is on the path to recovery, with strong support from its recent Coinbase listing. While technical indicators have yet to fully confirm a bullish trend reversal, the breakout from the parallel channel and the reclaiming of key levels are promising signs. If TAO successfully breaches the $450 resistance, a move toward $700 and even a new high of $824 could be in play. Investors should watch these critical levels closely as the market unfolds.
