Bittensor ($TAO) climbed more than 13% over the past 24 hours at press time, breaking above a key structural level. The advance outpaced the broader cryptocurrency market, which gained roughly 5% in total capitalization.

Among the top 100 cryptocurrencies by market capitalization, AI-related tokens led daily gains, yet $TAO — the native token of the decentralized machine-learning network Bittensor — had until recently lagged behind. Its rally had been expected to arrive in the coming weeks, even as several other altcoins had already begun to move higher.

$TAO Price Prediction — Is the $380 Target Within Reach?

According to a crypto analyst, Bittensor had yet to move off its bottom while a handful of altcoins were already running, a pattern suggesting that $TAO was positioned for a strong breakout. The conclusion rests on the fact that $TAO had spent an extended period in an accumulation range against Bitcoin (BTC).

The analyst anticipates a breakout in the coming weeks, with a target range between $360 and $380. On the daily chart, the MACD turned green after a bullish crossover, lending technical support to that view. At a price of about $255, the target sat more than 35% away.

Consistent with that outlook, $TAO broke the neckline of an inverted head-and-shoulders pattern at $270, indicating the token is trading toward the target.

Buying activity is also visible in derivatives data. The Aggregated Funding Rate turned green with a reading of 0.0066%, meaning bulls are paying bears a premium to keep their positions open.

Cautionary signals remain, however. The RSI Divergence has already printed a bearish signal on the hourly chart, and the RSI's reading of 70 at the time of writing points to overbought conditions — a setup that hints at a short-term price correction following the breakout.

Why the Breakout May Hold

Despite the risk of a short-term pullback, the breakout may prove durable. Beyond the analyst's backing, $TAO's rally has been supported by beta-driven momentum within the ongoing altcoin rotation.

Positioning data reinforces the bullish tilt. The Cumulative Long Liquidation Leverage stood at $19 million, while shorts totaled $2 million, indicating that traders had bought more leveraged positions below the current price than they had sold around or above $280.

The largest long order sat at $235, valued at $1.49 million, while the largest short order stood at $320, valued at $1 million. The $320 level could present an obstacle as the price trades toward $380.

As such, the breakout remains intact unless the price dips below $276 — a move that could trigger cascading long liquidations and amplify downside risk. With the RSI flashing overbought, the $320 short cluster and the $276 breakout line now stand out as the near-term markers for gauging whether $TAO's advance extends toward the analyst's $360–$380 range or pauses first.

Summary

Bittensor gained more than 13% in 24 hours as $TAO's price action broke above the key level at $276. Total liquidation leverage showed $19 million in longs against $2 million in shorts, reflecting a bullish bias in trader positioning.

Source: AmbCrypto