Traders should focus on the range extremes until it is breached, but TAO’s relative strength to Bitcoin showed a high chance of a move past $500.
Yes, the spot market volume has been high in October. Sustained buying pressure was seen following the market correction and could drive the rally higher.
Bittensor [TAO] has been trading within a range since June. This range extended from $295 to $471, with the mid-range level at $383.
Remarkably, the crash on the 10th of October saw TAO prices drop no further than the range lows.
The 1-day chart’s candlewick went to $140 on Binance, which notoriously saw enormous wicks to the downside for multiple altcoins.
However, the daily session closed at $290.7, and since then, has recovered from the range lows.
This was a sign of strength for the leading AI token. In the past 24 hours, TAO has rallied 10.75%, with an increase of 38.8% in its daily trading volume.
The 1-day chart showed that the mid-range support at $383 and the range high at $471 were the next key price targets.
The CMF was above +0.05 to indicate strong buying pressure. The RSI’s reading of 62 also signaled firm bullish momentum. Overall, a move to $470-$480 appeared highly likely in the coming days.
The two-week liquidation heatmap showed that the $450-$480 area was a noticeably strong magnetic zone to the north. It was also close to the current market price of $446.
To find a liquidity cluster of comparable density, we must go as low as $395.
Therefore, a move just beyond the range highs is likely for Bittensor in the coming days. Can the bulls achieve a breakout?
Comparing the performance of Bittensor to Bitcoin [BTC] following the market correction revealed encouraging signs.
The TAO/BTC chart showed a bullish structure break (dotted white) on Sunday, the 12th of October.
In other words, while Bitcoin struggled to find its footing and was forced to sink to $108k again, Bittensor bulls were aggressively buying TAO, driving a rally.
The TAO/BTC key long-term resistance levels from earlier in 2025 were a good distance away, showing TAO has more room to rally.
