Bittensor [TAO] leads AI sector with 11% daily gains – Is $500 next?
The post Bittensor [TAO] leads AI sector with 11% daily gains – Is $500 next? appeared on BitcoinEthereumNews.com.
TAO led crypto coins in the AI and big data sector with over 11% gains in the last 24 hours at the time of writing. The price action of TAO broke back above the $400 mark following a broader market recovery that could be offset. Bittensor [TAO] gained 11.42% in a day, trading at $431.57, at press time, where it led the crypto coins in the AI and big data sector. Internet Protocol [ICP] was up by 10.21%, at a price of $6.19 and registering strong trading volumes. Near Protocol [NEAR] also went up by 6.7% as per data from CoinMarketCap. Moreover, at the time of writing, Render [RNDR] rose 4.19% and was priced at $4.01. Artificial Superintelligence Alliance [FET] gained 1.74% while Filecoin [FIL] increased 4.67%, recovering earlier declines. Injective [INJ] added 3.95%, closing at $13.64. TAO and ICP ranking at the top reflected an overall positive movement in the sector. Will TAO’s bullishness hold? TAO surged past the top of its descending channel, breaking above the $429.3 level and signaling a potential trend reversal as bullish volume intensified. The MACD line climbed to 10.7, crossing above the signal line at 5.0, with the histogram reading 5.7, all pointing to rising positive momentum. This was further supported by the Chaikin Money Flow at 0.30. This indicated that capital continues to flow into the market, reinforcing TAO’s bullish outlook. Source: TradingView If the bulls are in power, TAO may rise to its next significant resistance target of $500. If TAO can’t maintain prices above its upper channel trendline at $400, the price may drop again below $400. Alternatively, if the price of Bittensor drops below $400, the next key supports would be at $373 and $349, which may lead to further declines in the market. For this outlook to stay,…
Filed under: News - @ June 10, 2025 11:27 am