Altcoins News
By MikeT
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Bittensor (TAO) has remained impressively resilient in early May, holding its bullish structure even as broader market sentiment wavered. Despite a recent 4.
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TAO Finds Strength at Key Support Levels
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Over the past ten days, TAO has consistently defended the $336 support zone. This price level has emerged as a short-term floor for the altcoin, providing a base for a…
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The one-day chart reinforces the bullish bias, with price consistently trading above both the 20-period and 50-period moving averages.
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TAO’s price behavior over the last month supports the bullish case. After flipping its swing structure by surging past $270 in mid-April, the altcoin rallied to $373 — which also…
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The On-Balance Volume (OBV) on the daily chart has been trending slowly upward, suggesting that buying pressure is accumulating, even during periods of sideways price action.
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Should TAO break above $373 with conviction, the next target lies near the $480 mark, aligning with the Value Area High and a previous zone of heavy liquidity.
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However, the 4-hour chart paints a more neutral picture in the short term. While the broader market structure remains intact, the OBV has shown no meaningful uptrend on the H4…
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Additionally, moving averages on the lower timeframes are crisscrossing without a clear directional trend, confirming the current state of indecision.
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Liquidity Map Points to Strategic Levels
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One of the most telling indicators comes from the liquidation heatmap, which shows a significant cluster of liquidation levels between $380 and $390.
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A move to sweep this liquidity zone could trigger a brief spike above resistance before a potential retracement.
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Bitcoin remains a crucial factor in TAO’s trajectory. If BTC can recover above the $95,700 level in the coming sessions, it would likely boost sentiment across the altcoin market.
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However, should Bitcoin fail to regain strength, traders should remain cautious and prepare for volatility, including a potential liquidity hunt that temporarily shakes out weak…
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Bittensor’s technical setup suggests that a significant move may be on the horizon. With the $336 support firmly defended and the $373 resistance repeatedly tested, a breakout…
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