$TAO : DIP AFTER DIP, BUT THE BIGGER PICTURE REMAINS BULLISH. 🐂
After touching one of the most important levels on our chart,
$TAO dipped again. However, price remains within a key range, and there's a breakout to watch between $303.60 and $529.30.
📉 MACD is approaching a potential bearish crossover, while funding rates on Bybit and OKX remain negative, suggesting shorts are paying to maintain their positions. If buyers step in, a short squeeze could accelerate the move.
The long/short ratio is another key indicator to watch. We need to see it turn bullish to strengthen the case for an upside move.
🔥 FUNDAMENTALS ARE BACKING THE THESIS:
• TAO's first halving cut daily emissions from roughly 7,200 to 3,600 tokens.
• Bittensor's subnets are generating real external revenue, with annualized estimates exceeding $50M.
• Grayscale has filed to convert its Bittensor Trust into a spot TAO ETF, potentially expanding institutional access if approved.
• AI infrastructure, compute, and decentralized intelligence remain major growth narratives.
Our key range is $303.60–$529.30, with $1,500 as the bigger upside target.
Could TAO make that move faster than the market expects? 👀
Highly leveraged traders may delay the move, but I'm watching for a breakout and a potential short squeeze.
AI coins remain on fire. 🔥
#TAOUSDT #BinancePick #EarningsSeason #BitmineAdds10452ETH