TAO Gains 9.5% as Crypto Markets Attract AI Agents
Bittensor (TAO) gained 9.51% over the past 24 hours, trading around $196.14 on Monday, significantly outperforming a mostly flat broader market as AI agents ventured into cryptocurrency.
According to technical traders, Bittensor is significantly underpriced and remains a focal point in decentralised AI, showcasing tangible technological advancement. However, its price is currently caught in a short-term struggle among range-bound traders.
The combination of a high-volume breakout and bullish momentum indicators indicates renewed buying interest. However, since the price is at a technical inflexion point, the next 24 to 48 hours will be critical for determining the direction.
A significant shift is occurring in the industry as autonomous AI agents become active market participants. Exchanges like Binance and OKX, alongside analytics firms such as CoinMarketCap, are rolling out tools and APIs that enable AI systems to trade, manage wallets, and analyse data autonomously.
This trend is bullish for Bittensor in the long term, as it validates and expands the ecosystem for decentralised AI economies. Being a leading project in this space, Bittensor is well-positioned to benefit from the infrastructure and developer attention flowing into AI-agent commerce.
Although Bittensor’s technology continues to advance, its price has struggled to break free. On March 7, Bittensor bulls attempted to push the price to $200 but were met with immediate rejection.
Price Analysis
The price surged past its 7-day average of $182.38 and is challenging the 23.6% Fibonacci retracement level at $193.01 amidst a surge in trading volume.
This breakout is supported by a 37.78% increase in 24-hour trading volume, reaching $212.57 million, along with a bullish MACD histogram reading of 1.52, indicating increasing upward momentum.
This move suggests strong buyer conviction at current levels and breaks a period of consolidation. Sustained price action above the $193 level is necessary to confirm the breakout’s strength.
The recent price movement appears to be driven by technical factors, capital rotation within the AI sector, or token-specific positioning rather than general market trends.
The immediate outlook is bullish, according to traders, although it is currently testing resistance. Analysts said the key level to watch is the 23.6% Fibonacci retracement at $193.01; holding above this level could pave the way for a move toward the recent swing high at $208.10.
The main risk lies in failing to maintain the $193 level, which could prompt profit-taking and push the price back to the next critical support at the 38.2% Fibonacci level of $183.68.
The short-term trend is positive, but it’s crucial to defend the $193 zone to maintain momentum. A daily close above $208.10 would signal a potential extension toward the $225.50 Fibonacci extension target. Ethereum Drops as Co-Founder Selloff Unsettles Traders
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