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Is Bittensor (TAO) Repeating Its History? Fractals Hint at Continuation of Bullish Rally
By: coinsprobe|2025/05/04 20:00:02
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Date: Sun, May 04, 2025 | 11:26 AM GMTAfter a rough start to 2025 — where even Ethereum (ETH) dropped 45% in Q1 — the crypto market is finally flashing signs of recovery. ETH has already bounced back more than 31% from its April 7 low, and that renewed strength is now spilling over into other major altcoins.One of the standout performers is the AI-focused token Bittensor (TAO), which seems to be quietly setting up for another explosive move.Following a deep correction in Q1, TAO has rebounded sharply — up 70% in the past 30 days — trimming its year-to-date losses to just around 20%. But this rebound might be more than just a temporary relief rally.Source: CoinmarketcapTAO Fractal Hints at a Familiar PatternWhen we look at the weekly chart, TAO appears to be repeating a very specific fractal pattern — one that has historically led to major rallies.TAO has shown a tendency to bounce strongly off the $190 support zone, which has now acted as a key bottom three separate times. Each of the last two bounces from this area triggered massive moves of over 290% and 350%, respectively, pushing prices into the $740 resistance zone.Bittensor (TAO) Weekly Chart/Coinsprobe (Source: Tradingview)Third Time’s the Charm?This current bounce is following a similar trajectory. After falling more than 76% from its highs, TAO hit the same $190 support zone in April and has since rallied to around $349 — up over 108%.If history repeats and the fractal continues to play out, TAO could be headed toward another major rally.But there’s one key level to watch: the 50-week moving average, which is currently hovering around $390 (highlighted by the yellow circle on the chart). A clear breakout above this level could confirm bullish momentum and pave the way for another run to the $740 resistance zone — which would mark a 346% gain from the recent bottom.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a financial advisor before making investment decisions.
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