- Bitcoin surged to a new all-time high of $112K while Ethereum climbed close to $2800 with a 6% gain, driving a broader crypto market rally.
- Bittensor (TAO) posted a 9% daily gain and is forming a chart structure similar to Sei (SEI), which recently delivered a powerful breakout from a falling wedge pattern.
- TAO is consolidating beneath key resistance at $370 (50-day moving average) after forming a descending broadening wedge, mirroring SEI's pre-breakout setup.
- A successful breakout above $370 could set TAO up for a potential run toward $489, though failure to break resistance may lead to continued consolidation.
Date: Thu, July 10 2025 | 07:12 AM GMT
The cryptocurrency market witnessed a major milestone today as Bitcoin (BTC) surged to a new all-time high of $112K. Ethereum (ETH) also joined the rally, climbing close to $2800 with a notable 6% gain. Riding this bullish wave, several altcoins are catching attention — including Bittensor (TAO), the AI-focused crypto.
While TAO has posted a 9% daily gain, what’s really turning heads is its chart structure — one that looks very similar to Sei (SEI), which recently delivered a powerful breakout.
TAO Mirrors SEI’s Breakout Structure
A closer look at SEI’s chart reveals a textbook falling wedge breakout. After forming the wedge, SEI broke out strongly, reclaimed its 50-day and 100-day moving averages as support, and surged significantly.
Now, TAO appears to be tracing that same path.
The chart shows TAO recently forming a descending broadening wedge pattern and is currently trying to breakout with consolidating just beneath the key 50-day moving average resistance at $370. This setup is eerily similar to SEI’s pre-breakout price action — a consolidation coil right before the breakout.
What’s Next for TAO?
For TAO to confirm its bullish structure, it must break and hold above the $370 resistance level — which aligns with the 50-day MA. A successful breakout from here could set the stage for a potential run toward its next key resistance at $489.
However, it’s important to remain patient.
If TAO fails to push above its resistance, it may continue consolidating or even fake out before making a decisive move. Still, the fractal similarity with SEI is encouraging — and it’s giving bulls a reason to stay alert.
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