{"id":2917,"date":"2025-04-09T11:10:19","date_gmt":"2025-04-09T10:10:19","guid":{"rendered":"https:\/\/investx.fr\/en\/?p=2917"},"modified":"2025-04-09T11:10:21","modified_gmt":"2025-04-09T10:10:21","slug":"bittensor-tao-could-soar-240-this-week","status":"publish","type":"post","link":"https:\/\/preprod.investx.fr\/en\/crypto-news\/bittensor-tao-could-soar-240-this-week\/","title":{"rendered":"Why Bittensor (TAO) Could Soar to $240 This Week"},"content":{"rendered":"\n

Is Bittensor (TAO) Ready to Explode or Continue its Downtrend ?<\/strong><\/h2>\n\n\n\n

Bittensor (TAO)<\/strong> fell below the $216<\/strong> level on April 6 and reached $167<\/strong> on April 7. Since then, it has bounced back by about 30%<\/strong> to retest the $216 zone, a key horizontal level from last month.<\/p>\n\n\n

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\"TAO<\/figure>\n<\/div>\n\n\n

The daily chart of Bittensor <\/strong>shows that the downtrend has been in place since the last week of January when the previous low of $416<\/strong> was broken. In the following weeks, the $434-$450<\/strong> range shifted from support to resistance<\/strong>, which manifested towards the end of February.<\/p>\n\n\n\n

Over the past six weeks, OBV has been steadily declining as TAO prices dropped from $470 to $180<\/strong>. In recent days, the $216 level has also flipped from support to resistance. Further losses were expected, and a price move towards $140-$126<\/strong> seemed likely in April (the red demand zone).<\/p>\n\n\n\n

Surprisingly, while Bittensor’s daily OBV has seen a slight increase in recent days, the CMF has shown a significant rise over the past week, reaching +0.05<\/strong>, a level some analysts use to denote significant inflows of capital.<\/p>\n\n\n\n

Traders’ Sentiment<\/strong><\/h2>\n\n\n\n

The liquidation heatmaps for 1 month and 1 week show significant liquidity zones around $240 and $220<\/strong>. These levels are short-term price targets as they are notable magnetic areas near the current price.<\/p>\n\n\n\n

Once $220<\/strong> is reached, a bearish reversal becomes a possible consideration. It becomes more uncertain if $220 will see a bearish reversal or if TAO <\/strong>can climb to $240<\/strong>. Traders need to prepare for both possibilities. $240 also represents the 20-day moving average.<\/p>\n\n\n\n

Alternatively, if the momentum shifts and TAO rises above $240, traders need to be even more cautious as this would likely lead to a rebound towards $280-$300<\/strong>, the 50-day moving average. Until $240 is reclaimed as short-term support, traders<\/a> can maintain a bearish outlook.<\/p>\n\n\n

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\"TAO<\/figure>\n<\/div>\n\n\n

Other indicators suggest optimism in the short term for TAO. The Supertrend has just turned bullish in 4H<\/strong> (though still red on the daily). And the Mean reversion Channel’s Bollinger band has tightened, indicating a strong movement on the way<\/strong>. TAO could indeed reach $240 today or tomorrow. But the medium-term trend remains bearish.<\/p>\n\n\n\n

How to Buy TAO on Bitget?<\/h2>\n\n\n\n

TAO appears bullish in the short term and could increase by 15% in the upcoming days<\/strong>. Here is a practical guide to buy TAO now on Bitget<\/strong> :<\/p>\n\n\n\n

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  1. Create a Bitget account<\/strong>
    Visit the     official Bitget website<\/a> and sign up with your email or phone number. Validate your registration through the received code and activate Two-Factor Authentication (2FA) to secure your account.<\/li>\n\n\n\n
  2. Verify your identity (KYC)<\/strong>
    Complete the KYC verification by submitting an ID document and, if required, proof of address. This quick step is necessary to unlock all trading features.<\/li>\n\n\n\n
  3. Add funds<\/strong>
    Go to “Deposit” and top up your wallet with     cryptos<\/a> (USDT, BTC, etc.) or via fiat (credit card, bank transfer). Follow the instructions to finalize the deposit.<\/li>\n\n\n\n
  4. Access the market<\/strong>
    Head to “Spot Market” or “Trading,” type “TAO” in the search bar, and select the TAO\/USDT pair to open the trading interface.<\/li>\n\n\n\n
  5. Make the purchase<\/strong>
    Choose a market order for an instant purchase or a limit order to set a specific price. Enter the desired quantity of TAO, verify, and then confirm.<\/li>\n<\/ol>\n\n\n\n
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    Buy your TAO on Bitget and receive a bonus !<\/a><\/div>\n<\/div>\n\n\n\n

    More on this topic :<\/strong><\/p>\n\n\n\n