Bittensor Price Surged 12% in the Last 24 Hours, Aims For A Trend Continuation

The Bittensor price surged 12% in the last 24 hours to trade at $416.41 as of 03:30 a.m. EST on trading volume that soared 15% to $45.6 billion.

The Bittensor price surged 12% in the last 24 hours to trade at $416.41 as of 03:30 a.m. EST on trading volume that soared 15% to $45.6 billion.

This comes as Artificial Intelligence (AI) cryptos jumped 9% in the last 24 hours to hit a market capitalization of $26 billion, according to CoinGecko.

Bittensor Price On A Bullish Trend, Aims For A Trend Continuation

As observed on the 4-hour price chart, Bittensor (TAO) price movements have formed a cup and handle pattern on the 4-hour price chart.

According to GeckoTerminal data, the Bittensor price was in a downtrend from August 26 to September 7, from the $358 resistance to the $231 support.

The bulls then used the support to retry the $358 resistance, with the price movements along this level forming a cup and handle pattern.

TAO bulls have capitalized on the pattern to push the price of Bittensor above the resistance level, as they aim to continue pushing the price even higher.

The Bittensor price now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), coinciding with the uptrend.

Moreover, the Relative Strength Index (RSI) is also climbing past the 70-overbought region, currently at 77, which is a confirmation that the asset is currently under intense buying pressure.

The sustained bullish rally is also evident as the Moving Average Convergence Divergence (MACD) climbs above the neutral zone. The blue MACD line has also crossed above the orange signal line, forming a bullish crossover.

Bittensor Price Prediction

According to the Bittensor price analysis on the 4-hour chart, TAO is currently on a sustained bullish trend, as the bulls continue to capitalize on the cup and handle pattern.

If the bulls continue pushing the price of Bittensor up, it could soar further above its current target of $526.

However, with the RSI now overvalued, the bears could take this as a selling signal, which could push the price of Bittensor on a correction. In this case, TAO could plunge back to the 50-day SMA, now acting as the immediate support zone at $320.

Meanwhile, investors are pivoting to the new meme coin presale Crypto All-Stars (STARS), which crypto analyst Claybro, with over 130K subscribers, says has the potential to soar 10X after launch.

Crypto All-Stars Presale Garners Over $1.42 Million – Best Meme Coin To Buy?

In slightly more than a month into its presale, Crypto All-Stars has already raised over $1.42 million.

The project is the first in the industry to introduce multiple meme coin staking, regardless of the blockchain, on a single staking protocol.

Crypto All-Stars’ standout feature is its MemeVault protocol, which allows holders of popular meme coins like Dogecoin ($DOGE) and Pepe ($PEPE) to stake their tokens together.

A brand-new player in the meme coin space, Crypto All-Stars just launched within the past 24 hours, and it’s already making waves! ?

Here’s why you should pay attention. ??

— web3telepath (@web3telepath) August 15, 2024

The project aims to become the leading meme coin staking protocol by offering the highest APYs and the ability to stake any meme coin.

Crypto All-Stars has also partnered with several meme coin communities, including Shiba Inu, Floki Inu, Brett, Mog Coin, Milady Meme Coin, Turbo, Toshi, Coq Inu, and Bonk.

As a result of these partnerships, holders of meme coins on the protocol can earn $STARS tokens as a reward for staking their tokens.

Moreover, Crypto All-Stars plans to launch its own meme coin, which will be available for staking on the MemeVault protocol.

The meme coin presale began on August 14 and will last for 90 days, or until the hard cap is reached, whichever comes first.

$STARS tokens are priced at $0.0014535 currently. With the price set to increase in less than two days, act quickly to lock in the best deal.

You can purchase $STARS from the official website here using ETH, BNB, or credit cards.

The Bittensor (TAO) price analysis is bullish today.

After a strong move up on Monday, Bittensor encountered resistance at $424.5.

The price has since pulled back slightly, forming a cup and handle