Is $750 The Next Big Target For TAO Price?
TAO has delivered impressive returns, soaring over 1600% to peak at $755.02 between late 2023 and early 2024. However, it entered a supply zone, leading to a 70% retracement by Q2 2024. Where its price returned to its initial demand level by July 5th.
In Q3, TAO's price saw brief increases but faced resistance at $358.58, causing declines. It mostly ranged between $200 and $358.58.
On August 5th, a liquidity-driven spike led to a breakout from a falling wedge, but the $358.58 level deflected the price again by August 27th.
On September 6th, the demand area pushed TAO's price past $358.58, achieving a change of character (ChoCh). The price surged from $225 to $600 and continues to rise. Currently, it has strong support at $520 and is heading towards the main supply zone.
Bittensor's price surge reflects strong market dynamics and investor optimism. If the bulls succeed, the next target is to retest the $750 level.
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