- Bittensor (TAO) has dropped 37% this year amid broader crypto market weakness, but jumped 8% today showing signs of momentum shift.
- TAO is displaying a chart pattern similar to May 2024 when it formed an inverse head-and-shoulders and rallied 87% after a 65% correction.
- The token is currently retesting key neckline resistance, with potential for a minor pullback to $212 support before a major breakout.
- If the pattern repeats, TAO could target around $600, representing nearly a 2x move from current levels.
Date: Sat, April 19, 2025 | 06:10 AM GMT
The cryptocurrency market has been under intense selling pressure recently, with Ethereum (ETH) posting its worst Q1 since 2018, sliding more than 45%. That bearish wave swept across the altcoin sector — and the Bittensor (TAO) token wasn’t spared, tumbling over 37% this year.
But there’s a shift in momentum brewing. The AI-focused token has jumped 8% today, and interestingly, it’s now flashing a chart setup that looks eerily similar to a past breakout that led to explosive gains.
Mirrors Past Bullish Breakout Setup
Taking a look at the daily chart, TAO appears to be following its historical bullish breakout pattern. Back in May 2024, after enduring a brutal 65% correction, TAO formed an inverse head-and-shoulders pattern — a classic bottoming signal — before exploding nearly 87% to the upside after the breakout.
Fast forward to today, and TAO is showing an almost mirror-image setup. Once again, after a 65% correction, TAO is grinding its way back up, now retesting a key neckline resistance — the same zone where it previously paused to form the right shoulder of the pattern.
If history rhymes, a minor pullback from this resistance zone down toward the bottom support around $212 to form the right shoulder could be on deck before a major breakout. The projected upside target sits around $600 — almost near a 2x move from current levels.
Final Thoughts
While the broader crypto market still shows signs of rebound, TAO’s structure looks promising for bulls who are patient enough to ride out a potential pullback. Chart patterns aren’t guarantees, but when combined with improving sentiment and strong historical behavior, they can hint at what’s coming next.
Of course, in crypto, anything can happen — so risk management remains key.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
