TAO has recently experienced a surge in 24-hour trading volume, exceeding $500 million, reflecting strong interest and market activity.
The spike in activity signals heightened interest as TAO’s trading price climbs to $599.66, up by 8.01% in the last 24 hours. Consequently, TAO’s market cap has reached $4.43 billion at press time, further indicating renewed momentum as it approaches a key resistance level at $685.Technical analysis: Signs of a bullish breakout
Breaking above this point could clear the path to the next target of $1,252.6, offering a significant potential gain. However, continued buying pressure is essential for this rally to hold. Additionally, the recent moving average crossover between the 9-day and 21-day MAs strengthens the bullish case. Both averages are trending upward, showing sustained momentum and strong buying interest.
However, this imbalance increases the risk of cascading liquidations if TAO faces sudden downward pressure, which could amplify losses and create volatility.Interestingly, the social dominance has decreased, currently standing at 0.059%. This suggests that TAO’s recent price rally is less driven by retail hype and more by larger investors, potentially lending stability to its uptrend.The open interest has risen by 12.58%, reaching $251.12 million.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This New Jersey Theme Park Takes A Trip Back To A Time Of Outlaws — And HangingsJonathan Blaustein is a photographer and writer based in Taos, New Mexico.
Read more »
ENA’s +$500M surge – Is a recovery on the TVL front next?Is ENA in the early stages of a recovery after months of downside? Key observations indicate renewed interest across the network, but...
Read more »
Bittensor leads AI coins with gains, volume surge: What’s next for TAO?TAO surges by 7.1% over the past 24 hours. Bittensor outpaces other AI-coins as its trading volume soars by 104%
Read more »
PG Blizzard speed skater Carolina Hiller claims third-straight senior national 500m titleTwo-time world champ in fine form at long track finals in Quebec City
Read more »
Dubreuil wins fifth straight 500m title at Canadian long track championshipsCaroline Hiller of Prince George, B.C. earns her third straight national title in the women’s 500m at Canadian speedskating long track championships
Read more »
Dubreuil wins fifth straight 500m title at Canadian long track championshipsQUÉBEC — Laurent Dubreuil won his fifth straight men's 500-metre speedskating national title on the opening day of the Canadian long track championships on Thursday. The Lévis, Que.
Read more »