Bittensor rises above $342.97 resistance as token buybacks drive momentum

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Bittensor jumps 18.35% to $319.2 today

Highlights

Bittensor is executing token buybacks funded by a $28 million to $35 million annualized external revenue base, directly reducing circulating supply.
Additional capital flows into AI-focused tokens and ongoing ecosystem developments are supporting increased demand for TAO.
TAO/USD trades with strong bullish momentum, with momentum indicators confirming buyer dominance and an expected price range of $295.43 to $342.97 in the next 2 to 3 sessions.

Token buybacks accelerate as subnets deploy external revenue

A major driver for Bittensor’s recent momentum is confirmation that fourteen of its subnets have begun using part of their externally generated revenues for token buybacks, as reported by Cryptobriefing. This direct reduction in circulating supply is supported by an annualized revenue base of $28 million to $35 million, highlighting meaningful demand from outside the core crypto ecosystem. In addition, Diariobitcoin and Meyka have pointed to ongoing ecosystem developments and capital rotation into AI-focused tokens as secondary factors lifting demand and sentiment.

Bullish technicals persist as volatility and overbought signals mount

On the hourly chart, TAO/USD is positioned above the MA-20 at $300.17, MA-50 at $276.49, and the long-term MA-200 at $241.74. The Ichimoku Kijun sits at $294.2 and is acting as immediate support. Momentum indicators underscore a strong bullish tone intraday: MACD prints a Strong Buy, ADX indicates Buy, while RSI is elevated at 68.39, and CCI remains in Buy territory. Bull/Bear Power is overbought, confirming dominance by buyers, while Stochastic RSI and Awesome Oscillator are neutral, hinting at potential divergence and signaling limited near-term upside. Price action has seen a significant intraday gap of 49.7, maintaining proximity to the session high amid elevated volatility.

High-probability gains projected amid consolidation scenario

Looking ahead, TAO/USD is expected to trade within a range of $295.43 to $342.97 over the next 2–3 sessions, consistent with current volatility. The baseline scenario suggests consolidation within this band, while a break above resistance may trigger further gains. Conversely, a move below the identified support level could result in a pullback, though the probability of an upward move remains very high based on prevailing momentum.

Anton Kharitonov, expert at Traders Union, sees recent buybacks by Bittensor subnets as a supportive factor for price, but remains cautious given elevated volatility and a strong run-up. He notes that while technicals indicate strong momentum above key moving averages, sentiment can shift quickly in response to sector rotation and inflows. Near-term action may stay within the $295.43 to $342.97 range unless clear confirmation of further demand emerges. "I prefer to wait for consolidation above $342.97 before reassessing any new long positions."

Earlier, analysts noted that Bittensor had shifted into a firmly bullish technical stance amid strengthening price momentum. The latest confirmation of ecosystem-driven token buybacks and persistently robust trading signals reinforces this trend, making a sustained close above the current highs a key level for traders to monitor in the sessions ahead.

Source of Data: TAO Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.