TAO Finally Decides to Move After Two Weeks of Being Lazy! Will the Bulls Keep It Going?

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Oh, look! Bittensor’s native token, TAO, has suddenly woken up, jumping a glorious 6% in the past 24 hours. It broke free from its two-week nap and is now out of the horizontal channel that kept it snoozing since September 23. We knew it had it in it!

What sparked this sudden burst of energy, you ask? Well, the crypto market is feeling a little bit more generous these days. With liquidity improving, capital is flowing in like a river of optimism, all thanks to the weakening US dollar and, of course, the ongoing chaos in traditional finance. As bulls begin to charge, TAO might just hit some new highs if it can keep its momentum going. 🐂💰

Traders Can’t Get Enough as TAO Decides to Flip the Bullish Switch!

For two whole weeks, TAO was hanging out in a boring horizontal channel between September 23 and October 7. Price? Flat. Excitement? Non-existent. But with a sudden burst of market enthusiasm, TAO decided to pop above the upper boundary of its consolidation range, signaling that the bulls might have finally wrestled control away from the bears. 🦁

In case you didn’t notice, TAO’s price has been climbing steadily, and it’s not doing it alone. Trading volume is soaring through the roof like a rocket, and right now, it’s at a very impressive $212 million – up by 108% in just 24 hours. Talk about a comeback! 🚀

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Now, when you see both price and volume rising in sync, it means one thing: Real demand is driving this price action, not just some big whales throwing their weight around. It’s all about new capital flowing in – and if this keeps up, we could see TAO heading for even bigger heights! 🌟

And hey, let’s not forget TAO’s long/short ratio. As of now, it’s sitting at a cool 1.01. That’s right, the market is overwhelmingly betting on more upward action. It’s a bullish dream! 💸

Just so you know, the long/short ratio is a fun little metric that shows whether traders are more confident in a price increase (long) or decline (short). If it’s over 1, like in TAO’s case, it means the bulls are taking charge. A ratio below 1, well, that’s a bear’s playground. 🐻

TAO’s Next Stop? $373, Maybe. If the Bulls Don’t Take a Nap!

TAO’s breakout and the good vibes in the market suggest that traders are feeling optimistic about a continued uptrend. If this buying pressure keeps going strong, TAO could be on its way to retesting its September highs and maybe even hitting $373.31. 🎯

But, hold your horses! If the demand starts to dry up, TAO might lose steam and dip back to $333.9. If the support at that level fails, we could see TAO slipping back into its old sideways ways and heading below $320. 🛑

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2025-10-07 19:18