Bittensor (TAO) Price Holds Steady Near $460
Bittensor (TAO) is trading around $460 as of Wednesday. It keeps the 3% gain from the previous day. The AI token may rise further due to growing retail interest and strong buying pressure.
Rising Retail Demand Boosts Futures Market
Trader sentiment for Bittensor has improved after last Friday’s flash crash. Data from CoinGlass shows TAO futures Open Interest (OI) at $338.59 million. This is a 28% increase in 24 hours. Higher OI means more traders are taking risks.
Trading volume also rose by nearly 59%, reaching $2.34 billion. This shows a bullish trend in the derivatives market.
Bittensor Faces Key Resistance Levels
Bittensor trades above its 50-day, 100-day, and 200-day moving averages at $347, $350, and $359. This suggests a bullish trend is in place.
The recent rally is supported by Digital Coin Group CEO Barry Silbert. He announced flagship funds for Bittensor’s subnet tokens. The price has reached the 50% Fibonacci retracement level at $458. This level is important as it acted as resistance in January 2025.
If TAO breaks above $458, it may face resistance at the 61.8% and 78.6% Fibonacci levels at $526 and $624.
Technical indicators show strong bullish momentum. The Relative Strength Index (RSI) is at 72, entering the overbought zone. The Moving Average Convergence Divergence (MACD) is also rising steadily.
If TAO fails to break $458, it could drop to the 38.2% Fibonacci level at $389. This would threaten the $400 psychological support.
