Bittensor (TAO) - AI crypto coin leading the trend
- Bittensor (TAO) is currently trading at 355 USD, having clearly surpassed the Fibonacci level of 61.8% at 306 USD. The Fibonacci range is drawn from the bottom of the cycle at 142 USD to the previous peak near 589 USD. The recent rebound was recorded with a gain of 21.07% from the breakout zone, with the price reaching 355 USD.
- The two Exponential Moving Averages indicate the potential formation of a Golden Cross in the near future. The 50-day EMA (in green) is at 269 USD and the 200-day EMA (in red) is at 233 USD. Currently, the TAO price has clearly surpassed these two lines.
- The drop on March 24, 2024, and the subsequent rise confirm the breakout. The next targets for TAO are the Fibonacci level of 78.6% at 350 USD, followed by the extension level of 1.0 at the previous peak around 407 USD. A further target will be the extension level of 1.236 at 469 USD.
