Can Bittensor (TAO) Price Break Crucial Resistance? Analyst Predicts 7.5x Rally

Can Bittensor (TAO) Price Break Crucial Resistance? Analyst Predicts 7.5x Rally

Analyst Roman (@Roman_Trading) highlights a key resistance level for Bittensor (TAO) at $400. According to Roman, TAO's potential for a breakout is increasing, with a surge anticipated if it surpasses this crucial threshold.

Key Resistance and Projected Rally

Roman's analysis focuses on the $400 resistance level, which has posed a significant challenge for TAO in the past. The chart he shared illustrates multiple attempts to break through this level without success, indicating its importance in determining TAO's future direction.

If TAO can overcome the $400 barrier, Roman predicts a substantial rally towards $2,000 - $3,000. This represents a potential 5x to 7.5x increase from the current price, generating significant interest in the token. However, the breakout remains contingent on breaking through the established resistance.

Support Levels and Historical Price Movements

In addition to the resistance at $400, Roman also highlights a lower support level around $250. This price point has acted as a floor for TAO during previous downturns. While the $250 level provides some stability, the primary focus remains on TAO's ability to break out from its current consolidation period.

TAO has repeatedly tested the $400 mark, but has not managed to sustain momentum beyond this level. Failure to break the resistance may lead to a retracement towards the $250 support before another attempt at elevation.

Potential Patterns and Volume Trends

Roman's chart also suggests a possible inverse head and shoulders pattern, which could indicate a bullish reversal. This formation aligns with his optimistic outlook on TAO and supports his expectation of a breakout.

The volume surrounding TAO has shown signs of gradual growth, suggesting increasing market interest. This rising volume could signal the building of momentum, potentially setting the stage for the breakout anticipated by Roman.

Analyst Prediction and Outlook

Roman's prediction hinges on TAO's ability to surpass the $400 resistance. His tweet expresses confidence that a breakout at this level will trigger a sharp rise in value, reaching $2,000 - $3,000.

However, until TAO clears the $400 resistance, the token will likely continue to consolidate within the established support and resistance levels. If the breakout fails, the $250 support may become a key level to watch for future price movements.