The post Bittensor (TAO) Soars 10% amid Grave Scam Allegations: Analyst Sees $1,330 appeared on BitcoinEthereumNews.com.

Key Notes TAO surged 10%, reclaiming the resistance at the 20-day EMA, driven by bullish technicals. A falling wedge breakout hints at a possible run to $400+ for TAO if momentum sustains. Allegations paint Bittensor as a centralized, VC-manipulated project with tokenomic flaws. Bittensor TAO $258.1 24h volatility: 10.8% Market cap: $2.22 B Vol. 24h: $121.82 M , the AI-powered blockchain protocol, is making headlines for both the right and wrong reasons. While the TAO token has jumped nearly 10% in the past 24 hours, tapping a high of $259.68 and now trading around $254.86, it’s doing so under a darkening cloud of controversy. Despite facing a searing takedown from crypto analyst Thinking Weird, who calls Bittensor a “scam” with deeply flawed tokenomics and centralized control, the token has defied gravity. Technical Picture: Falling Wedge Breakout in Play The chart below shows TAO breaking out of a falling wedge pattern—a bullish reversal setup. After months of lower highs and lower lows, TAO is now pushing against the upper resistance trendline. With volume ticking up and momentum indicators improving, the setup is ripe for further upside. TAO recently reclaimed the 20-day EMA at $237. A retest of this level is possible and would act as a bullish confirmation if held. On the other hand, the key resistance lies around $280–$300. A break above this range could trigger a sharp rally. Meanwhile, the wedge on the chart below implies a potential measured move towards $400 in the near term. The Relative Strength Index (RSI) is hovering around 55, neither overbought nor oversold, which suggests room to run. The gradient of the line suggests increasing buying pressure. Additionally, a bullish crossover had recently occurred, signaling a positive trend shift. The histogram also remained bullish for the TAO token with increasing green bars. It…

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Filed under: News - @ April 18, 2025 10:18 am