Bittensor (TAO) price is up 15% in the last 24 hours, as it continues to challenge RENDER for the second spot among the largest AI-focused cryptos, with VIRTUAL firmly holding the top position.

Supported by strong technical indicators, the uptrend reflects the positive sentiment surrounding AI-related tokens. However, whether TAO can maintain its momentum and secure further gains will depend on the sustainability of its current trend and key support and resistance levels.

Ichimoku Cloud Paints a Bullish Picture for Bittensor

The Ichimoku Cloud chart for TAO demonstrates a strong bullish setup, as the price has decisively broken above the red cloud. This breakout signifies a shift in market sentiment, with buyers taking control and driving the price higher.

The green cloud ahead, formed by the upward-sloping Senkou Span A and B lines, further reinforces this bullish outlook, indicating that momentum is expected to remain positive in the near term.

Additionally, the blue Tenkan-sen (conversion line) is above the orange Kijun-sen (baseline), signaling strong short-term price momentum relative to the longer-term trend. The green Chikou Span (lagging span) is well above both the price and the cloud. That confirms the bullish alignment with past price action.

For Bittensor price to maintain this upward momentum, it must stay above the cloud and continue building on the recent breakout. However, any retracement back into the cloud could signal a potential loss of bullish momentum or a period of consolidation.

TAO ADX Shows the Uptrend Is Getting Stronger

The ADX (Average Directional Index) for TAO is currently at 29, marking a significant increase from 14.5 just one day ago. This sharp rise indicates that the strength of the current trend has grown considerably,

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Author: Tiago Amaral