- •TAO trades above $460 after four consecutive days of gains.
- •Futures open interest climbs 28% to $338.59 million.
- •Volume jumps 59% reaching $2.34 billion, signaling buyer activity.
Bittensor (TAO) has maintained its upward trend, trading near $460 on Wednesday. The token sustained a 3% gain from the previous day. Renewed retail interest and higher buying activity have supported the recent rally. Futures market data shows growing trader confidence in TAO.
Open interest in TAO futures has risen to $338.59 million, marking a 28% increase in 24 hours. Trading volume also jumped by 59% to $2.34 billion, indicating higher market participation. Analysts note that this level of activity often precedes further price movements.
TAO Faces Critical Technical Levels
Bittensor currently trades above its 50-day, 100-day, and 200-day moving averages at $347, $350, and $359. This suggests the token is in a bullish trend. The price recently reached the 50% Fibonacci retracement at $458, a level tested in January 2025.
If TAO closes decisively above $458, the next potential resistances lie at $526 and $624, corresponding to the 61.8% and 78.6% Fibonacci levels. Technical indicators are showing bullish momentum. The Relative Strength Index (RSI) at 72 is in overbought territory, and the MACD shows continued upward movement.
If the token reverses from $458, it could retest the 38.2% Fibonacci level at $389, testing the $400 psychological level. Traders may closely monitor these levels for potential entry or exit points.
Institutional Support Strengthens Market Confidence
Institutional activity is supporting TAO’s rally. Grayscale’s Form 10 filing for the Grayscale Bittensor Trust has sparked renewed interest. This may lead to over-the-counter quotations and greater institutional exposure.
Additionally, Tao Synergies Inc. recently secured $11 million in private financing. This funding aims to support the Bittensor ecosystem, demonstrating continued confidence in its decentralized AI platform. Backed by flagship funds and strong price performance, this reinforces positive market activity.