Bittensor (TAO) holds firmly above the key moving averages, targeting a breakout past $400

Bittensor (TAO), the token powering a robust decentralized network for collaborative machine learning, exchanges hands at $366 at the time of writing on Tuesday, down nearly 3% on the day but holding onto gains accrued in the past 24 hours.

The token, used to reward miners who contribute AI models to the network, is now 68% in the last month. Bittensor’s recovery from the tariff shocks in April reflects rising interest in decentralized AI systems, as several crypto funds are now known to hold significant TAO positions. This highlights the converging importance of AI and blockchain technologies.

Bittensor’s price is still above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs). While TAO encountered resistance at $390, a reversal from the 200-day EMA support at $361 could see traders factor in more bullish cues for testing the highs past $400.

From the Relative Strength Index (RSI) perspective, the indicator is plummeting toward the 50 midline from overbought levels, signaling stronger bearish pressure. This suggests TAO might drop further to test the 100-day EMA at $328 and the 50-day EMA at $310, aggregating liquidity before its next recovery attempt.

Akash Network (AKT)

Akash Network’s price stands at $1.63 as of press time, down nearly 4% in the 24-hour period. Although bulls recently broke through its long-term downtrend, there’s still some way to go before reaching the 200-day Exponential Moving Average (EMA).

The daily chart shows the AI token facing resistance at the 200-day EMA, which stalled its recent gains. Still, AKT holds above the 100-day EMA, a sign that bulls are not ready to give in yet.

A break above the 200-day EMA at $2.00 could ignite a 20% rally to $2.50, marking a 53% increase from the prevailing market price. However, if bulls fail to hold the price above the 100-day EMA at $1.60, anticipates sharper declines. The 50-day EMA at $1.34 will absorb potential overhead pressure ahead of another recovery attempt.

Saros (SAROS)

Saros’ price is at $0.14, down slightly on the day as bulls take a breather following a breakout to $0.16. A higher support level, tentatively at $0.14, could stabilize the uptrend. But traders should be prepared for all outcomes, including a larger-than-expected pullback in case profit-taking intensifies.

SAROS has outpaced other projects in its sector, notated by about 17.5% gains in a fortnight. However, the Relative Strength Index (RSI) at 70 on the 8-hour chart signals overbought conditions, hinting at a potential pullback. A dip to $0.14 could offer an opportunity to buy ahead of another leg up, with traders aiming for a last test of resistance at $0.20.

The broader cryptocurrency market is in a consolidation rut, with Bitcoin (BTC) remaining above the $94,000. However, select Artificial Intelligence (AI) tokens, including Bittensor (TAO), Akash Network (AKT), and Saros (SAROS), have remained relatively buoyant in the last 24 hours.

This positive outlook on AI tokens comes a day after President Donald Trump attended the “Crypto & AI Innovators Dinner,” organized by MAGA Inc. According to CNBC, the dinner, one of two that President Trump will be attending in May, is part of his broader support for innovation in the cryptocurrency and AI industries.

The second dinner, scheduled for May 2, will serve as an opportunity for the top 220 TRUMP meme coin holders to meet with the President. This initiative is designed to provide support for the token, which was launched days before President Trump’s inauguration.