Bittensor (TAO) Price Consolidates as Return to $700 Is Delayed

Bittensor (TAO), one of the leading artificial intelligence coins in the market, is currently showing signs of consolidation. Market indicators suggest indecision, with neither buyers nor sellers taking firm control.

TAO’s movement appears range-bound, lacking clear momentum to either break higher or fall significantly lower. The EMA lines suggest the possibility of a “death cross,” which could spark a significant correction if the market loses momentum further.

TAO Ichimoku Cloud Shows Consolidation

The Ichimoku Cloud chart for TAO shows a mixed picture of the current market conditions. The price is currently trading near the cloud, suggesting indecision.

The cloud itself (Kumo) is mostly flat and has both green and red areas, indicating an overall neutral trend. The price recently tried to break above the cloud, but failed to gain significant upward momentum, indicating resistance.

TAO Ichimoku Cloud. Source: TradingView

The Tenkan-sen (Conversion Line) and Kijun-sen (Base Line) intersect near the current price, suggesting the market is looking for direction. The leading span A and leading span B, which form the cloud, are not diverging sharply, pointing to potential range-bound movement.

If TAO, which is the biggest artificial intelligence coin in the market today, can break decisively above the cloud, it could indicate a bullish shift. Conversely, a fall below the lower cloud boundary would suggest a bearish trend. At the moment, the market appears hesitant, with buyers and sellers evenly matched, leading to sideways movement.