- $TAO to retest $491 breakout support—bulls must hold for $720–$850 leg up.
- Subnet queries up 300%, $1.8B TVL, 28% staking APY—Bittensor’s AI boom in overdrive.
- 68% supply locked, whale selling fades—$491 dip = rocket fuel, not reversal.
Bittensor’s $TAO isn’t just surviving the altcoin purge—it’s coiling for a monster leg up, and Crypto Tony just flashed the playbook. The veteran trader’s latest X update: “Shed some profits… looking for us to pullback to retest the breakout range at $491. The bulls want to hold this level.” Translation? After a textbook breakout from a 14-month descending wedge, $TAO’s primed for a healthy retest before blasting past $700.
As of press time, $TAO trades at $512—down 6% in 24 hours but up 180% from its $185 July low. Tony’s “incredible entry” likely caught the $320–$350 zone in September, when on-chain metrics screamed accumulation: Subnet registrations spiked 40%, validator count hit 72, and TAO staking APYs topped 28%. The pullback? Pure profit-taking after a 60% sprint in October—healthy, not fatal.
Technicals align like clockwork. The $491–$505 zone—former wedge resistance turned support—sits atop the 50-day EMA ($488) and a rising volume shelf. RSI cooled from 78 (overbought) to 54, resetting momentum without bearish divergence. A bullish retest here mirrors Solana’s 2023 playbook: retest, consolidate, explode. Tony’s thesis: Hold $491, target $720–$850 (prior cycle highs).
Fundamentals? Bittensor’s AI subnet boom is just igniting. Subnet 1 (text prompting) now processes 1.2M queries daily—up 300% QoQ. Subnet 19 (decentralized GPU rendering) onboarded 8K nodes post its $2M incentive pool. OpenTensor Foundation’s $10M dev grants in Q4 are luring ex-Google DeepMind talent, per GitHub commits. TVL in TAO liquidity pools? $1.8B, rivaling Arbitrum’s early 2024 surge.
Macro tailwinds? Bitcoin’s November seasonality (Lark Davis’s 42% average) lifts all alts, while Trump’s crypto EO draft leaks fuel risk-on flows. $TAO’s low float (6.8M circulating) + insane staking lockups (68%) = supply shock waiting to trigger.
Risks? A $475 breakdown eyes $420—but with 85% of holders in profit and whale sells tapering (per Nansen), dip-buyers dominate. Tony’s move: Scale in at $491–$505, stops under $475.For traders: This isn’t a top—it’s refueling. Bulls defend the breakout; $1,000 calls are loading. Crypto Tony’s verdict? “Bulls want to hold.” They will.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
