The post Bittensor (TAO) Surges 60% in 3 Weeks: Can lt Manifest 2x Gains appeared on BitcoinEthereumNews.com.

The scepter of buyers created a bullish spell in Bittensor (TAO) on the daily chart from July 7th, 2024, which displayed more than 60% growth in the past three weeks. When writing, the struggle to advance upward continued as the 200-day EMA band acted as an interruption that needed to be cleared. Bittensor (TAO) fell by 7.10% in market value and was optimized by 25.39% in trading volume in the last 24 hours, per the CoinMarketCap website. Its market value was $2.257 Billion, and its trading volume was $63.545 Million.  There were 7.122 Million TAOs in circulation, nearly 33.91% of the total supply of 21 Million TAOs. Despite the low circulating supply, it succeeded in garnering the crowd’s interest, as its total supply seemed low compared to the other options in the cryptoverse. Additionally, the frightened bears tried to suppress the bulls’ spell near $358, and the struggle appeared on the chart as a pause. The same has been confirmed with the 24-hour liquidation data, where longs were $95.06K and shorts were $17.48K. Total Liquidations Chart | Source: Coinglass The open interest was at $48.63 Million, indicating that nearly 12.06% of contracts closed within 24 hours. Despite that, the derivatives volume showed a surge of 37.40%, which amounted to $112.15 Million. What Do TAO Crypto Technical Charts Represent? The analyst @SatoshiFlipper has been optimistic about the Bittensor (TAO) and hopes for nearly 2x gains in the near future. One such analyst shared a chart on X, where he marked that the price could be $640 or higher contingent on buyers. The TAO 1-D price chart shows some positive points based on such enthusiasm. For example, the price has surpassed the 50-day EMA band and displayed sustenance to overrun the 200-day EMA. On the chart of TAO, the breach of $358…

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Filed under: News - @ July 26, 2024 8:18 pm