Bittensor Price Prediction – TAO Price Estimated to Reach $ 597.51 By Nov 07, 2024
Bittensor is predicted to increase 30.10% in the next 5 days and hit a price target of $597.51 per TAO. Check out today's Bittensor price prediction to learn why.
Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.
- Bittensor is down -4.35% today against the US Dollar
- TAO/BTC decreased by -3.99% today
- TAO/ETH decreased by -3.63% today
- Bittensor is currently trading 25.96% below our prediction on Nov 07, 2024
- Bittensor dropped -11.21% in the last month and is up 410.62% since 1 year ago
| Bittensor price | $ 442.38 |
| Bittensor prediction | $ 597.51 (30.10%) |
| Sentiment | Bearish |
| Fear & Greed index | 69 (Greed) |
| Key support levels | $ 448.58, $ 433.79, $ 413.89 |
| Key resistance levels | $ 483.27, $ 503.18, $ 517.96 |
TAO price is expected to rise by 30.10% in the next 5 days according to our Bittensor price prediction
Bittensor price today is trading at $ 442.38 after losing -4.35% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -5.75% in the same time period. TAO performed poorly against BTC today and recorded a -3.99% loss against the world’s largest cryptocurrency.
According to our Bittensor price prediction, TAO is expected to reach a price of $ 597.51 by Nov 07, 2024. This would represent a 30.10% price increase for TAO in the next 5 days.
TAO Price Prediction Chart
What has been going on with Bittensor in the last 30 days
Bittensor has been displaying a negative trend recently, as the coin lost -11.21% in the last 30-days. The medium-term trend for Bittensor has been bullish, with TAO increasing by 82.53% in the last 3 months. The long-term picture for Bittensor has been positive, as TAO is currently displaying a 410.62% 1-year price change. On this day last year, TAO was trading at $ 86.64.
Bittensor reached its all-time high price on Apr 11, 2024, when the price of TAO peaked at $ 776.03. The current TAO cycle high is $ 681.58, while the cycle low is at $ 166.97. TAO has been displaying low volatility recently – the 1-month volatility of the coin is at 8.51. Bittensor recorded 9 green days in the last 30 days.
Bittensor technical analysis for today - Nov 02, 2024
The sentiment in the Bittensor markets is currently Bearish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 448.58, $ 433.79 and $ 413.89, while $ 483.27, $ 503.18 and $ 517.96 are the key resistance levels.
Bearish sentiment for Bittensor
10 indicators are currently signaling a bullish prediction for Bittensor, while 16 indicators are showing a bearish forecast. With 62% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Bittensor.
Crypto market is currently experiencing Greed
Currently, the Fear & Greed index is at 69 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.
Bittensor moving averages & oscillators
Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Bittensor is positioned in the market right now.
| Period | Daily Simple | Daily Exponential | Weekly Simple | Weekly Exponential |
| MA3 | $ 523.94 (SELL) | $ 547.77 (SELL) | - | - |
| MA5 | $ 539.63 (SELL) | $ 565.55 (SELL) | - | - |
| MA10 | $ 519.05 (SELL) | $ 581.26 (SELL) | - | - |
| MA21 | $ 551.31 (SELL) | $ 565.86 (SELL) | $ 266.02 (BUY) | $ 414.91 (BUY) |
| MA50 | $ 512.74 (SELL) | $ 489.90 (SELL) | $ 366.50 (BUY) | $ 323.18 (BUY) |
| MA100 | $ 399.87 (BUY) | $ 427.55 (BUY) | - | - |
| MA200 | $ 392.19 (BUY) | $ 392.73 (BUY) | - | - |
| Period | Value | Action |
| RSI (14) | 37.81 | NEUTRAL |
| Stoch RSI (14) | 31.31 | NEUTRAL |
| Stochastic Fast (14) | 10.66 | BUY |
| Commodity Channel Index (20) | -66.67 | NEUTRAL |
| Average Directional Index (14) | 13.58 | NEUTRAL |
| Awesome Oscillator (5, 34) | -55.94 | NEUTRAL |
| Momentum (10) | -64.16 | NEUTRAL |
| MACD (12, 26) | -12.24 | NEUTRAL |
| Williams Percent Range (14) | -89.34 | BUY |
| Ultimate Oscillator (7, 14, 28) | 37.06 | NEUTRAL |
| VWMA (10) | 514.08 | SELL |
| Hull Moving Average (9) | 502.44 | SELL |
| Ichimoku Cloud B/L (9, 26, 52, 26) | 574.40 | NEUTRAL |
The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Bittensor is at 37.81, suggesting that TAO is currently neutral.
The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Bittensor over the last 50 days. Currently, Bittensor is trading above the SMA 50 trendline, which is a bullish signal.
Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the TAO closing price for the last 200 days. TAO is now trading below the SMA 200, signaling that the market is currently bearish.
The bottom line about this Bittensor prediction
After considering the above factors, we can conclude that the current forecast for Bittensor price prediction is Bearish. TAO would have to increase by 30.10% to hit our $ 597.51 target within the next five days. Moving forward, it will be important to monitor the TAO market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Bittensor price predictions click here.
Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.
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