TAO Rockets 13% as Nvidia Doubles Down on China!

Hang onto your hats, crypto fans! TAO just blasted off by as much as 13% on April 18, soaring past a crucial support level and catapulting its market cap back over $2.2 billion. Why the sudden surge? Nvidia's not backing down from China, even with new U.S. export restrictions breathing down their necks!

During the Asian trading frenzy, TAO hit a wild intraday high of $259.2. The trading volume? It exploded over 42% to more than $113 million, showing traders are all in on this action!

What sparked this fire? Nvidia's CEO, Jensen Huang, just dropped into Beijing and met with Chinese trade bigwigs. Huang's not playing around—he promised Nvidia would "spare no effort" to keep serving the Chinese market with compliant products. Talk about commitment!

This comes hot on the heels of the U.S. slamming the door on Nvidia's H20 chip exports to China. That chip was made to play nice with earlier export rules, but the policy flip-flop could hit Nvidia with a whopping $5.5 billion revenue loss. Their stock already took a 7% hit by Wednesday. Yikes!

But Nvidia's bold stand has the AI market buzzing, up nearly 4% in the last day. Not just TAO—other AI coins like Near Protocol (NEAR) jumped 3.1%, while Internet Computer (ICP), Render (RENDER), FET, and Arweave (AR) are partying with gains from 4% to 9%!

These projects are all ears when Nvidia makes moves, thanks to the chip giant powering their AI dreams.

Analysts are watching Nvidia like hawks, saying their adaptability is the key to surviving these trade storms.

Komodo's CTO, Kadan Stadelmann, spilled the beans: Nvidia's gotta play the global game, diversifying supply chains and cozying up to bigwigs worldwide. China's a massive market with 1.4 billion people and a huge chunk of Nvidia's customers.

"Companies are scrambling to rework supply chains like never before," Stadelmann said. "Nvidia's looking at manufacturing in the U.S., but they'll go wherever they can make the best products without tariffs eating their profits."

TAO Price Analysis: Bullish Breakout on the Horizon?

Nvidia's move has traders hyped, with TAO's open interest jumping over 20% in the last 24 hours. Social sentiment's flipping positive, too, according to Santiment data.

On the 1-day TAO/USDT chart, the token's reclaimed the $218 support level like a boss. This level's been a rock-solid support before.

Market commentator Bitcoinsensus is calling it: TAO's formed a double-bottom pattern on the weekly chart, a classic sign of a trend reversal. Break above the neckline, and we could be looking at a medium-term target of $1,330!

Zooming into the daily chart, TAO's breaking out of a multi-month falling wedge—a bullish reversal sign if I've ever seen one. With the pattern converging, this breakout screams that sellers are losing their grip. If this move sticks, we're in for a sustained uptrend. TAO's RSI's climbing above 55, and its MACD lines are crossing bullishly.

First stop? $470, a cool 82% above where we're at now.

Some traders are even more bullish. Crypto General's eyeing $760 as the next big hurdle, with a secondary target at $1,340 if the bullish momentum keeps roaring.

Disclosure: This article's for your brain, not your wallet. It's all about learning, not investing.