Bittensor price has recently broken out of a long-standing falling wedge pattern, gaining over 70% in the past month. While bullish momentum has cooled slightly, the uptrend remains intact, with the next target set around $420.
Bittensor (TAO) is up over 70% in the past month, currently trading around $369.
The Bittensor rally began on April 7, when TAO price bounced off the lower trendline of a long-standing falling wedge pattern near $180, accompanied by a spike in volume. After a brief pullback in mid-April, the rally resumed, fueled by the quiet launch of the Bittensor Liquid Fund by Unsupervised Capital on April 16.
Bullish momentum kept building throughout April. Around April 20, the 20-day EMA crossed above the 50-day SMA—a bullish signal. On April 22, TAO also broke out above the wedge’s upper resistance trendline. Since touching that trendline, TAO gained approximately 110%.
Following its recent breakout, Bittensor price is now consolidating near local highs, holding firmly above horizontal support at ~$335, which aligns with the 20-day EMA ($337). While the overall price structure remains bullish, short-term momentum has cooled, with the RSI declining from overbought levels at the local top to 63 at press time. The MACD histogram is starting to printing red, signaling weakening bullish momentum.
Despite this, the 20 EMA remains above the 50 SMA, reinforcing the underlying bullish trend. As long as TAO maintains support above the $335 zone, the breakout remains intact and continuation is likely.
After clearing the local resistance near $390, the next—albeit weaker—barrier lies around $420, where TAO was previously rejected following a sharp leg down in early February. A decisive breakout above this level, especially on strong volume, could open the door to the next upside target in the $460–$470 range — a key horizontal cluster formed in late January and the rejection after the April 20 swing high.
Apart from Bittensor, other AI-focused tokens have recently staged impressive breakouts. Virtuals Protocol (VIRTUAL) surged 60% following a breakout from a consolidation range, while Aixbt (AIXBT) delivered a 110% gain after its range breakout.
