Analyst Says Bittensor (TAO) Could Be Ready for a Spike – Here’s the Price Target

Bittensor (TAO) is standing out again after spending months moving sideways. The AI-focused token has been hovering near a key support zone, and some analysts believe the chart may be setting up for a larger move.

Crypto analyst Karamata shared a breakdown of the TAO chart, arguing that several technical signals are beginning to line up. 

The analyst believes the current structure offers an attractive risk-to-reward setup, especially among AI-related tokens. The analyst shared that the market may be quietly building a base.

Here’s What The Bittensor Chart Is Showing

One of the most important features on the chart is the triple bottom structure forming near the $170–$200 support zone.

This area has held several times over the past year. Each time the TAO price moved into that range, buyers stepped in and stopped the decline. Because of that repeated reaction, the zone has turned into a strong support level on the weekly chart.

The pattern shows three separate dips into the same area followed by rebounds. In technical analysis, that type of formation can signal that selling pressure is losing strength while buyers are absorbing supply.

The most recent bounce from that zone keeps the structure intact and suggests that the support level remains active.

Indicators Point to Improving Momentum

The analyst has also pointed out a number of indicators that are starting to look more positive.

The MACD on the chart is getting close to a crossover. The last two times this happened, TAO didn’t stay quiet for long, the price started climbing and the rallies lasted for several weeks.

Another thing worth looking at is On-Balance Volume (OBV). It shows a double bottom and has started moving up from the lows. That usually means buying interest is slowly returning after a period when the market was mostly selling.

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What TAO Price Targets Could Come Next

At writing, TAO is trading at levels near $190, which is right on top of the support level identified by the analyst.

If the triple bottom pattern holds true, then the first level of interest will be near the $300 level, which previously served as a significant resistance level during previous periods of consolidation.

Breaking above this level may then pave the way for the levels near $450-$500, which saw multiple rejections during previous periods of appreciation.

In a more robust bullish market, according to the chart projection shared by the analyst on the Bittensor chart, it is possible that the value could rise into the $600-$700 range if buying continues to accumulate and the AI theme again gains traction in the broader crypto market.

As of now, everything rests on whether or not the $170-$200 range continues to hold as a support zone. So long as the TAO price is above this range, this potential chart structure remains a possibility.

If buying continues to hold above this range, it will be interesting to see if the market is again priming for a potential rally in Bittensor.

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