Today $TAO +10% again, around 287, with a high of 289, and 300 is just ahead.
The AI sector has been quiet for a long time. After the PPI selloff and the mood recovered, money started looking for a story to tell. The narrative about that 72B decentralized training model has been brought up again these past two days — the story isn’t new, it’s from a paper in March, and at this position I definitely wouldn’t dare chase it. After a run-up, the probability of chasing in and getting hit by a pullback is too high.
Still, there really are buy orders stepping in on the market. The 24-hour low was 256, and now it’s 287.
#TAO #Market Analysis
The AI sector has been quiet for a long time. After the PPI selloff and the mood recovered, money started looking for a story to tell. The narrative about that 72B decentralized training model has been brought up again these past two days — the story isn’t new, it’s from a paper in March, and at this position I definitely wouldn’t dare chase it. After a run-up, the probability of chasing in and getting hit by a pullback is too high.
Still, there really are buy orders stepping in on the market. The 24-hour low was 256, and now it’s 287.
#TAO #Market Analysis