Bittensor [TAO] gained more than 10% over the past 24 hours, extending weekly gains to over 21%. Social mentions and engagements for the token surpassed 12.44K, with mindshare increasing by 23% according to CoinMarketCap data.
The rally coincided with renewed momentum in the AI sector, driven by strong corporate earnings and expanded token liquidity. Nvidia's Q2 earnings report showed record revenue of $96.20 billion, a development that strengthened sentiment across AI-related assets including tokenized NVDA and Bittensor.
Additional support came from infrastructure improvements. TAO liquidity expanded by more than $600,000 following the launch of a TAO-USDC pool on Aerodrome, exposing the token to Base Chain users. Trading volume surged in August, averaging over $300 million at mid-month.
The Bittensor ecosystem also expanded, reaching 128 subnets at press time, reflecting organic growth within the network.
Technical Positioning
On daily charts, TAO is trading above a descending trendline that served as resistance since late March. The token has moved above its 200-day exponential moving average at $236.5, marking a shift in market structure. The break was confirmed through a retest at the $225 level.
Funding rates favored buyers at 0.0055%, and the Relative Volatility Index stood at 72.77, indicating rising volatility alongside price gains.
Resistance Levels Ahead
Analysts noted that further upside depends on clearing $260 resistance. Should TAO breach that level, subsequent price targets of $290, $350, and potentially above $450 may come into play. The $450 level was last traded in November.
If rejection occurs at $260, the token could retest the broken trendline or return to its consolidation pattern.
