- Bittensor breaks resistance with a 20% surge, signaling strong bullish momentum.
- Coinbase listing fuels interest, increasing liquidity and investor confidence in TAO.
- Social dominance and open interest rise, supporting potential for sustained price growth.
Bittensor—TAO, has experienced a massive breakout, climbing 20% in 24 Hours. Confidence among investors continues to rise, reflected in a massive surge in open interest. As excitement builds, Coinbase’s decision to list TAO could bring even more momentum. The question now is whether the rally will sustain or if a correction awaits.
A Surge in Open Interest and Coinbase’s Influence
Open interest in TAO has jumped by over 30%, reaching an impressive $221.98 million. This significant increase signals growing investor confidence, as more capital flows into the market. Higher open interest often strengthens price action, providing additional liquidity and fueling sustained movement.
Coinbase’s decision to list TAO has amplified enthusiasm, as one of the most popular crypto exchanges offers greater accessibility. More exposure means a potential influx of new investors, which could push demand even higher. The listing stands as a catalyst, potentially extending the upward trend beyond the current resistance levels.
Resistance, Social Metrics, and Liquidation Trends
TAO faces resistance at $445.11, a key price level determining the next major move. If this hurdle falls, the next target sits around $455. Failure to breakthrough could lead to a short consolidation before another attempt. Social dominance and discussion volume surrounding TAO have surged, showing heightened interest from traders.
Increased engagement often signals stronger price action, aligning with the current bullish outlook. Liquidation data reveals that long positions dominate, totaling over $517K, while short liquidations remain low. This imbalance suggests strong bullish sentiment, with traders anticipating further growth.
Bittensor’s breakout, rising open interest, and Coinbase’s support create an optimistic outlook. Breaking past $445 could lead to even higher targets, while failure may bring consolidation. The next few days will determine if this rally has more room to run.