The post Bittensor (TAO) Price Surges Amid Market Rebound: Is $500 Within Reach? appeared first on Coinpedia Fintech News
Bittensor (TAO) has emerged as one of the fastest-recovering altcoins following the recent crypto market crash, bouncing back sharply from lows around $312 to trade near $420. This rapid rebound has sparked renewed investor interest, raising the question: Can the TAO price sustain this momentum and test $500 this month? Technical indicators suggest potential upside, with October targets ranging between $450 and $520, but will market volatility allow it to hold these levels, or is another correction looming?
TAO Price Surges Over 30%
Bittensor (TAO) is making waves after the recent crypto market crash, which saw altcoins plunge due to broad risk-off sentiment and heavy liquidations. While many tokens struggled to regain footing, TAO has staged one of the quickest and most impressive recoveries in the market. Key drivers behind this surge include:
- Institutional Backing Signals: Grayscale’s TAO Trust filing with the SEC has injected confidence, hinting at growing institutional interest.
- Trading Frenzy: A 197% spike in 24-hour trading volume reflects heightened buying activity and market attention.
- Social & Community Hype: Positive sentiment across Twitter and Reddit has fueled investor optimism, reinforcing the rally.
With these catalysts, the big question remains: can TAO sustain this momentum to hit $500–$520 by October, or is volatility poised to test its limits again?
Will Bittensor (TAO) Price Reach $500 in October?
The TAO price experienced a massive sell-off before the weekly close, leading the rally towards the lows around $140. Meanwhile, the bulls jumped into action and not only recovered 100% of the loss but also surged beyond the range. Currently, the price has surged beyond the interim threshold at $400, and the technicals suggest it could face the next barrier at $465 in the next few days.
The TAO price has flipped from the bearish influence and broken the descending resistance that it has held since May. The Supertrend has turned green, validating the change of the trend to bullish. It is also considered a buy signal wherein the investors are considering opening long positions. On the other hand, the +Di & -Di of DMI are converging, suggesting the bullish and bearish forces are balancing. This could send the token into a consolidated phase, signalling the weakening of the trend as the rally could be preparing for a breakout in either direction.
Therefore, the Bittensor (TAO) price is believed to maintain a consolidated ascending trend and enter the resistance zone between $465 and $473. Breaking this zone could be extremely difficult, but with the buying volume increases, a breakout above $500 could be imminent.