Bittensor Price Prediction: 2024, 2025, 2030

TAO price prediction: Key highlights

1. Primary support and resistance levels

• Analyzing the daily timeframe, the lowest support level for TAO can likely lie around $410.
• Meanwhile, $730 proved to be the peak resistance.

2. Market sentiment

• In April 2024, the market sentiment has been observed to be bearish.

3. Predictive forecasts

• Forecasts from AI/ML predictive models estimate the average price of TAO to reach $2,000 in 2025 and increase to over $15,000 in 2028.

Get valuable insights on TAO’s future trajectory via a comprehensive daily technical analysis, followed by the coming weeks of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

TAO technical analysis: Can the AI movement save the price?

The journey of TAO's price over the daily chart presented a nuanced picture of the increased hype surrounding artificial intelligence (AI) tokens. This offers insights into potential future movements, with implications for Bittensor price prediction in 2024. 

The price movement started with the bulls firmly establishing $625 as a support level while testing the peak resistance at $730. This led to a rejection. A subsequent retest was met with a similar fate in mid-March.

This time, the price briefly fell below $625 before pumping again to retest the highest resistance. Yet again, the bulls failed to overcome this level, precipitating more pronounced declines. This turned $625 into stern resistance.

Efforts to reclaim this level led TAO to fall below the support at $522 towards the end of March. In April, the bulls managed to elevate the price back up. Furthermore, the price shot up in the second week to test the peak resistance again. AMBCrypto reported that Binance’s announcement of listing TAO triggered this surge. Nonetheless, this momentum wasn't sustained.
 

By mid-April, the token had settled below $522. This downturn led the price to the lowest support on the chart at $441. This decline set the stage for a slight recovery. An uptick brought the price to retest $522. At the time of this analysis, the altcoin was trading at $496.

This valuation reflected a loss of approximately 17% over the month. However, as per CoinMarketCap, the asset recovered gains of over 1.1% in the last week. 
 

Although the general AI token momentum has cooled recently, the growing demand for open-source AI tools could still fuel TAO's long-term growth.  This can further be supported by TAO displaying an impressive 984% uptick over the past year. 

Looking forward, the potential for the price to surpass the resistance level of $522 could empower bulls. This can drive the price towards the next resistance level at $625. If the price stabilizes above this level, it would likely set the stage for a test of the higher $730 resistance, with the possibility of reaching or surpassing the all-time high (ATH).

Conversely, a strengthening bearish trend could see the price fall to test support at $441. If left unchecked, it could extend losses to the crucial support level of $410.

Based on predictive models, the average price of TAO is estimated to reach significant heights in the coming years. Forecasts suggest that by 2025, the value is expected to reach $2,500. Looking ahead, an even more remarkable projection places the value at an astounding $15,000 by 2028.

TAO's 2024 roadmap: Key indicators to watch and trade

• The trading volume remained on the lower side, with slight recoveries noted during rallies. Notably, intermittent spikes in trading volume on down days were also a noticeable trend.
• This pattern might reflect a market that was somewhat unstable or in a state of flux, with investors being cautious but ready to react to short-term events or news.
• After a slight increase until the first week of March, the On-Balance Volume (OBV) reversed its trajectory and continued to decline until the end of the month. This was followed by a period of ascending momentum, which lasted until the second week of April. 
• However, the trend reversed once again, bringing the OBV to a reading of 124,502. This reflected prominent selling pressure in the market.
• The Moving Average Convergence Divergence (MACD) line briefly rose above the signal line toward the end of the first week of March before falling back below it. In the month’s latter half, both lines crossed below the zero line, indicating a shift to negative momentum. 
• Positive momentum slightly increased in early April as the MACD line moved above the signal line. However, this uptrend was reversed by mid-month. At the time of writing, the values were as follows: the MACD line at -24.87, the signal line at -24.91, and the histogram at 0.04. The minimal difference between the two lines pointed to a brief hint of bullish momentum, while the overall sentiment remained bearish with low momentum.