- On April 17, Bittensor (TAO) witnessed a rally where it soared above $266, but quickly plunged below a major support level at around $255.
- The rally was witnessed after Bitcoin (BTC) soared above $78,000, which sparked a bullish momentum in the overall crypto market.
- Bittensor has been locked between a strong consolidation pattern between $240 and $260 for many weeks after earlier volatility linked to subnet news.
On April 17, Bittensor (TAO) price witnessed an upward momentum with a surge of 7% on a daily chart following a rally in the Bitcoin (BTC) price, but failed to hold its position and faced a quick correction on the daily chart.
On Friday, the overall crypto market sparked a bullish sentiment in the market, which helped most altcoins to gain a spike. The main reason behind the rally in the crypto market is the major development in peace talks between the U.S. and Iran. Apart from this, recently, artificial intelligence-related tokens have also attracted the attention of investors due to their real utility.
At the time of writing, Bittensor (TAO) is trading a...
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