Bittensor: Wrapped TAO, Tokenomics & Best Tools
Overview of Bittensor: Bittensor is a decentralized network that incentivizes machine learning models to contribute valuable intelligence, aiming to disrupt traditional AI models. Its native token, TAO, facilitates governance and rewards within the ecosystem.
Wrapped TAO (wTAO): Wrapped TAO allows users to interact with Ethereum-based platforms by converting TAO into an ERC-20 token, enhancing accessibility for trading and staking while maintaining the original token's value.
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Technical Analysis for TAO
Technical Sentiment Analysis for Bittensor (TAO) As of , Bittensor (TAO) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TAO stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, TAO is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bittensor (TAO) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 65.68 | 104.24 | 141.58 | 180.14 | 217.48 | 256.04 | 293.38 |
| Fibonacci | 104.24 | 133.234 | 151.146 | 180.14 | 209.134 | 227.046 | 256.04 |
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