- Bittensor TAO trades near $238 after clearing the key $229 resistance level.
- The triangle pattern projects a potential 36.9% rally toward the $273 resistance zone.
- Failure below $229 may trigger a deeper correction toward the $221 support area.
Bittensor (TAO) is gaining attention as a potential leader for the next crypto bull run. The token recently broke above the $229 resistance and now trades near $238, with technical patterns suggesting further upside. If momentum continues, TAO could target $273 and potentially challenge the key psychological $300 level.
Bittensor TAO Gains Attention After Cyril DeFi Bull Run Call
Bittensor TAO has drawn renewed market attention after Cyril-DeFi highlighted the token as a strong contender for the next crypto bull run. The Bittensor TAO price recently climbed to around $238, following a breakout above the $229 resistance level during the latest rally.
Chart data from TradingView shows Bittensor TAO trading slightly above the 200-day exponential moving average, a widely used indicator of long-term trend strength. On the daily timeframe, the token recently reached a high of $251.2 and a low of $217.6, indicating a narrowing price range near a critical resistance zone.
According to Cyril DeFi, Bittensor TAO stands out among altcoins because of its strong fundamentals and growing interest in artificial intelligence blockchain infrastructure. The current price structure forms a triangle pattern, which often precedes large market moves when resistance eventually breaks.
Bittensor TAO Triangle Pattern Signals Possible $273 Rally
The technical structure surrounding Bittensor TAO indicates growing momentum as the price compresses within the triangle formation. Buyers continue defending higher lows while resistance remains concentrated near $250.
If bullish sentiment persists, Bittensor TAO could attempt a decisive breakout above this barrier. A confirmed move through $250 would validate the pattern projection, opening the path toward $273. This target represents roughly a 36.9% upside from earlier consolidation levels.
Beyond that range, market attention would shift toward the $300 psychological level, a milestone that often attracts both speculative inflows and increased volatility.
However, downside risks remain visible. Momentum indicators currently suggest the asset may be approaching overbought territory. At the same time, derivatives positioning shows a large concentration of short futures contracts.
If profit-taking emerges, Bittensor TAO could retreat below the $229 support level. Such a move may trigger a short-term correction toward $221. Losing the $196 support zone would invalidate the bullish breakout structure and potentially cause larger liquidation events across leveraged positions.
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.
