Bittensor's Wild Ride: From Falling Wedge to Soaring Heights!

TAO's 70% Surge Leaves Investors Buzzing

Bittensor's price has just smashed through a long-standing falling wedge pattern, skyrocketing over 70% in the last month alone. Sure, the bullish frenzy has taken a slight breather, but the uptrend is still going strong, with its sights set on a juicy $420 target.

Bittensor's Meteoric Rise: From $180 to $369

Bittensor (TAO) has been on fire, blazing up over 70% in the past month and now hovering around $369.

The Rally That Shook the Crypto World

The Bittensor rally kicked off on April 7, when TAO bounced off the lower trendline of that stubborn falling wedge near $180, with volume spiking like crazy. After a quick breather in mid-April, the rally roared back to life, fueled by the stealthy launch of the Bittensor Liquid Fund by Unsupervised Capital on April 16.

Unsupervised Capital's Big Bet on Bittensor

Today I'm thrilled to announce Unsupervised Capital — a liquid token fund dedicated to Bittensor.

At a time when conviction feels scarce across crypto, I've never felt more clarity or confidence about a single thesis: Bittensor.

I'm launching this with my longtime friend...

Bullish Signals and Breakouts Galore

The bullish momentum kept building throughout April. Around April 20, the 20-day EMA crossed above the 50-day SMA—a clear bullish signal. On April 22, TAO also blasted through the wedge's upper resistance trendline. Since touching that trendline, TAO has rocketed up by approximately 110%.

Consolidation and the Battle for Support

After its recent breakout, Bittensor's price is now taking a breather near local highs, holding strong above horizontal support at around $335, which lines up perfectly with the 20-day EMA ($337). While the overall price structure is still screaming bullish, short-term momentum has cooled off a bit, with the RSI dropping from overbought levels at the local top to 63 at press time. The MACD histogram is starting to flash red, signaling that bullish momentum might be losing steam.

The Bullish Trend Remains Unstoppable

But don't let that fool you—the 20 EMA is still above the 50 SMA, reinforcing the underlying bullish trend. As long as TAO keeps its support above the $335 zone, the breakout is still in play, and a continuation is likely.

The Next Big Targets: $420 and Beyond

After clearing the local resistance near $390, the next—albeit weaker—barrier lies around $420, where TAO was previously rejected following a sharp leg down in early February. A decisive breakout above this level, especially with strong volume, could open the door to the next upside target in the $460–$470 range—a key horizontal cluster formed in late January and the rejection after the April 20 swing high.

AI Tokens on Fire: Virtuals Protocol and Aixbt Join the Party

And it's not just Bittensor—other AI-focused tokens have been staging their own impressive breakouts. Virtuals Protocol (VIRTUAL) surged 60% following a breakout from a consolidation range, while Aixbt (AIXBT) delivered a mind-blowing 110% gain after its range breakout.