The cryptocurrency market has been bullish over the last 24 hours, and key support levels for Bitcoin and Ether have been held.
TAO, the native coin of the Bittensor ecosystem, is the best performer among the top 30 cryptocurrencies by market cap.
The coin is up 14% in the last 24 hours and is now trading at $307 per coin.
Technical indicators and derivatives data suggest further upward movement in the near term.
The bulls are now targeting the $340-$350 zone for the first time since November 2025.
TAO soars as institutional interest improves
TAO is up 71% in the last 30 days, thanks to the growing institutional adoption.
Bittensor is gaining traction following the listing of a staked TAO ETP on Nasdaq Stockholm, which has improved access for professional investors.
Furthermore, Grayscale’s launch of a private Bittensor Trust for accredited investors adds to the growing market infrastructure.
Exchange data revealed that $5.77 million in TAO net outflows occurred over March 21 and 22, reflecting ongoing accumulation by spot buyers.
On-chain data also confirms the continued accumulation of TAO by validators over the past 90 days.
Similar to Bitcoin, Bittensor has a maximum supply of 21 million tokens and runs a decentralized machine learning network.
The derivatives data suggest a bullish outlook.
According to CoinGlass, TAO’s futures Open Interest (OI) reads $446 million, up from the roughly $250 million recorded at the start of March.
The funding rates have also flipped positive, indicating a bullish bias.
The long-to-short ratio of 1.025 also indicates that the buyers are currently in control of the market.
Bittensor price forecast
The TAO/USD daily chart is bullish and efficient as Bittensor is extending its gains, trading above $307 on Tuesday.
The near‑term bias is cautiously bullish as price pushes further above the 50-day, 100-day, and 200‑day Exponential moving Averages.
This confirms a recovery phase from the $140 low recorded a few weeks ago.
The break above the trendline resistance level around $184 earlier this month allowed the bulls to regain full control of the market.
The Relative Strength Index (RSI) on the daily chart at 72 holds in overbought territory, signaling strong but stretched upside momentum.
Furthermore, the Moving Average Convergence Divergence (MACD) line stands above the signal line and remains in positive territory, reinforcing persistent bullish pressure despite the extended run.
If the market encounters a pullback following this rally, TAO would face immediate support that emerges near the 38.2% Fibonacci retracements at $294.30.
Failure to protect this support level would allow TAO to retest additional downward protection region at $236.40, where the rising 50‑day EMA would increasingly lend trend support if a deeper correction unfolds.
However, if the bullish trend persists, the bulls would like to overcome the resistance level around $341.10, aligning with the 50% Fib retracement level on the daily chart.
This area could see a potential selloff as profit‑taking could slow the advance if bulls extend the move.
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