Bittensor (TAO) Token Hints at a Potential Price Rally Above $700

Technical charts are hinting at the possibility of the Bittensor (TAO) token pumping more than twofold as it attempts to reach a new all-time high.

According to the pseudonymous analyst, the number has served as the crypto’s key support zone on three separate occasions within a parallel channel between 2024 and 2025. The fractal has consequently led to the $740 (R4) resistance several times.

Given this trend, TAO could cruise toward another break above $700. Reinforced with positive narratives going forward, it could even smash the $740 resistance and head to a new all-time high beyond the $767.68 record it tapped in April last year.

However, the analyst recommended investors to watch out for the trajectory of TAO’s 50-week moving average. To reach the projected target, it must first surpass that pattern’s $390 psychological resistance.

A clean break above the figures would confirm further bullish price action, which could lead to an over 337% rush from last month’s low.

The prime mover of the crypto sector experienced a jump in demand following Strategy’s billion-dollar purchase last week. The event also translated to considerable net inflows in US spot Bitcoin exchange-traded funds (ETFs).

Moreover, the slightly cooling tension between the US and international superpowers, especially China, contributed greatly to the latest developments. Then, there’s the US Federal Reserve’s seemingly softening stance toward cryptos.

The central bank announced last week that it will no longer mandate US banks to submit a report about their planned crypto-asset-related activities. Its proclamation effectively overturned the guidance it published in 2022 pertaining to the matter. The crypto community saw the measure as a potential shift in the Fed’s anti-Bitcoin and crypto-critical stance over the years.

Analysts expect AI crypto tokens to gain more strength along with the AI industry’s exponential growth. For them, these digital assets are well-positioned to become a central part of the AI sector’s transition into a fully digital economy.