Bittensor [TAO] Successfully Defends $400 Support and Rebounds. Over the past day, TAO has surged from a local low of $411 to a high of $474.

After retracing following an uptick to $488 a week ago, Bittensor [TAO] has successfully defended $400 support and rebounded.

Bittensor [TAO] defended $400 support and rebounded, retracing some of the gains seen after the token hit a peak of $488 a week ago.

Over the past day, TAO has surged from a local low of $411 to a high of $474.

At press time, TAO traded at $472.2—up 13.16% over the past 24 hours. Volume surged 122% to $588 million. The rising prices amidst higher volume usually suggest strong demand for an asset. In this case, Bittensor is experiencing significant demand among participants.

This is evident when we look at the 24-hour Order Delta, which showed more buy orders being executed than sell ones.

The Delta sat at a positive zone at 3.89k with buy volume at 32k while sell volume sits at 28.19k. A positive imbalance suggests that buyers have entered and taken over the market.

Clearly, market participants have stepped in to absorb supply and push prices higher.

As such, TAO’s derivatives markets are increasingly high, and most investors are bullish.

This is evidenced by the surge in Open Interest (OI).

As per CoinGlass data, Bittensor’s OI rose 20.59% in the last day, reaching $260.8 million—evidence of fresh capital entering long positions.

At the same time, when we look at the Funding Rates aggregated by exchanges, it has held positive over the past two days.

When OI climbs alongside positive Funding Rates, it often signals trend conviction, not just short-term noise.

Technically, TAO flashed more bullish signals.

The EMA 50 moved sharply and is now brushing against the EMA 200. If the upside continues and the 50 EMA flips the long-term moving averages, it will signal the continuation of the uptrend.

Historically, the move has preceded higher prices as buyers take control of the market.

Therefore, if the uptrend continues here with the Golden Cross emerging, we will see TAO make more gains. A continued upward price action from the current levels will see TAO reclaim $500.

However, if bulls fail to hold and the market and sellers retake it, a correction will occur, and Bittensor will pull back to $403 support.