TAO Price Prediction 2024: Will TAO Rise to $888.92 by Dec 05, 2024?

TAO price is expected to rise by 30.95% in the next 5 days according to our Bittensor price prediction is trading at $673.73

TAO price is displaying a positive outlook today and recorded a 8.67% gain in the last 24 hours. At the time of writing, TAO trades at $ 673.73. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 5.63% in the same time period. It also performed well against BTC today and recorded a 9.62% gain against the world’s largest cryptocurrency.

According to our Bittensor price prediction, TAO is displaying a neutral outlook and is expected to reach a price of $ 888.92 by Dec 05, 2024. This would represent a 30.95% price increase for TAO in the next 5 days.

TAO Price Prediction Chart

Buy/Sell Bittensor

What has been going on with Bittensor in the last 30 days

Bittensor has been displaying a positive trend recently, as the coin gained 39.70% in the last 30-days. The medium-term trend for Bittensor has been bullish, with TAO increasing by 150.44% in the last 3 months. The long-term picture for Bittensor has been positive, as TAO is currently displaying a 127.04% 1-year price change. On this day last year, TAO was trading at $ 296.75.

Bittensor reached its all-time high price on Apr 11, 2024, when the price of TAO peaked at $ 776.03. The current TAO cycle high is $ 680.33, while the cycle low is at $ 166.97. TAO has been displaying low volatility recently – the 1-month volatility of the coin is at 9.49. Bittensor recorded 17 green days in the last 30 days.

Bittensor technical analysis for today - Dec 01, 2024

The sentiment in the Bittensor markets is currently Bullish, and the Fear & Greed index is reading Extreme Greed. The most important support levels to watch are $ 587.95, $ 558.36 and $ 532.90, while $ 643.00, $ 668.46 and $ 698.05 are the key resistance levels.

Bullish sentiment for Bittensor

24 indicators are currently signaling a bullish prediction for Bittensor, while 4 indicators are showing a bearish forecast. With 86% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Bittensor.

Crypto market is currently experiencing Extreme Greed

Currently, the Fear & Greed index is at 84 (Extreme Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed†reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear†reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Bittensor moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Bittensor is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Bittensor is at 66.86, suggesting that TAO is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Bittensor over the last 50 days. Currently, Bittensor is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the TAO closing price for the last 200 days. TAO is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Bittensor prediction

After considering the above factors, we can conclude that the current forecast for Bittensor price prediction is Bull