- TAO traded at $339.54 after a 3.0% daily decline, positioned within a falling wedge on the 1-hour chart.
- The token held between $313.62 support and $349.98 resistance, forming a clear short-term trading structure.
- TAO’s BTC pair recorded 0.003540 BTC, reflecting a 4.2% move as price moved closer to the wedge’s upper boundary.
Bittensor’s TAO token returned to focus as the asset moved within a narrowing structure on the one-hour chart. The token traded at $339.54 after posting a 3.0% daily decline, while its Bitcoin pair recorded 0.003540 BTC, marking a 4.2% change. T he chart displayed a falling wedge formation with price action compressing between converging trend lines. This setup placed increased attention on the upper boundary, which aligned with the short-term resistance level at $349.98.
Meanwhile, the lower boundary remained anchored near the support level of $313.62, creating a clear framework for ongoing monitoring. The market also referenced projections of a potential 25% move if the pattern resolved upward, though the present data centered on the levels currently in play. With the asset positioned near the wedge’s upper trend line, traders continued to observe how TAO behaved within this tightening range.
Price Trades Between Clear Wedge Boundaries
The falling wedge pattern outlined the session’s structure, and the token’s position near the midpoint reinforced the relevance of both boundaries. The support level at $313.62 formed the lower anchor of the pattern and reflected previous reactions around that area. However, TAO remained above that threshold during recent sessions, which kept the focus on the top of the formation.
The upper trend line aligned closely with the resistance at $349.98, creating a dual reference point as the price approached it. This alignment shaped the short-term view because the asset continued moving between these levels without broad deviation.
Resistance at $349.98 Defines the Immediate Upper Limit
The nearest resistance level at $349.98 set the first checkpoint for any upward move within the structure. This level matched the top boundary of the wedge, which increased its importance during the current price approach. TAO’s recent candles pressed closer to this region, and this behavior kept the chart’s attention on this figure.
The narrow 24-hour band also contributed to this focus, as the price moved within a limited range. This tightening behavior created a defined environment for tracking intra-session changes while maintaining a consistent pattern across the chart.
Market Observes Tight Pattern as Price Gradually Approaches Upper Trend Line
Market participants monitored the gradual advance toward the wedge’s top boundary while noting the token’s position above support. The chart’s structure provided a clear depiction of the pattern and helped identify the areas currently guiding short-term expectations.
Additionally, the chart suggested that each movement toward either boundary offered more information for tracking the next stages. This structured environment supported continued observation as TAO moved through the formation, notably because each reaction around support or resistance contributed new data to the existing range.
