Bittensor (TAO) Builds Momentum Toward $400 With Technical Breakout and Bullish Sentiment

From mid-April, the crypto market has been surging towards new highs, and top coins like BTC and ETH have risen above their bearish values. Among many cryptos in the industry, the TAO token price jumped 17%  to $385, and it is currently trading around $382 after touching the low point of $359. Such a sharp move reflects growing investor confidence. Everyone is taking a keen interest in TAO momentum, from retail traders to institutions. With a price rally this strong, it’s clear that the Bittensor price surge is gaining serious momentum. 

TAO Volume Spikes as Trading Activity Heats Up

One major signal behind the rally is the rise in daily trading volume. As of April 29, morning Asian time, TAO’s volume had shot up by 87% from the previous day, reaching over $208 million. But at the time of writing, it slipped to $180 million, yet maintaining a 23% growth. This jump reflects increasing market participation, which often fuels price moves further. It is currently trading at $382, and the market cap is at $3.33 billion, as shown in the chart below. Combined with rising open interest in futures, the stage is set for further TAO growth in the short term.

Chart 1- TAO/USDT Market Cap, published on CoinMarketCap, April 29, 2025.

Futures and Sentiment Point to TAO Bullish Momentum

Open interest in TAO futures hit a three-month high of $258 million on April 25, up significantly from $155 million a month ago, as said by Mark Jeffry. This sharp rise in open interest, alongside a price rally, is often seen as a bullish sign. In addition, funding rates have flipped positive, meaning traders are paying to stay long, and the outlook becomes even clearer. Right now, the long/short ratio for TAO/USDT on Binance is 1.14, which shows that more traders expect the TAO token price to keep increasing.

Grayscale Spotlight Rekindles TAO Breakout Buzz

What helped reignite interest in TAO? A key factor was Grayscale’s recent spotlight on its Bittensor Trust in an April 28 X (Twitter) post. Though the trust launched initially in August 2024, this renewed attention from a leading crypto asset manager added credibility. As a result, excitement surged across social media and trading platforms. The Bittensor price surge wasn’t just about numbers, it was also about renewed visibility. Grayscale’s involvement matters, especially for institutional investors, and it’s helped strengthen the case for a sustained TAO breakout in the days and weeks to come.

$TAO Is breaking the $360 resistance with strength. We'll potentially see a test of the $360 level as support.

But $485 is on the table now pic.twitter.com/Y4dJBArQrH

— Quinten | 048.eth (@QuintenFrancois) April 28, 2025

Technical Patterns Suggest More Upside Ahead

From a technical analysis point of view, TAO is looking strong. The token recently broke out of a multi-month falling wedge pattern, a formation often seen before bullish moves. Following the breakout, TAO has been moving in an ascending channel, approaching resistance near the $400 mark. If it manages to break past this level, we could see the TAO token price climb even further. Adding to the momentum is a golden cross on the daily chart, where the 20-day EMA crossed above the 50-day EMA, a pattern that previously triggered a 140% surge in TAO’s price.

Community Confidence Boosts TAO Growth Outlook

Trader sentiment is highly optimistic, and 83% of traders expect short-term gains from TAO. Positive sentiment has lasted 12 straight days, a rare sign of sustained optimism in the volatile crypto market. Meanwhile, Google Trends shows TAO is becoming a hot search term as more people tune into the buzz. Technical indicators like the Chaikin Money Flow (now at 0.13) confirm building buying pressure. If current momentum continues, analysts say TAO growth could push the token to test the $485 resistance, a potential 30% gain from today’s level.