Bittensor [TAO] climbs 10%, holds near $345 – Rally ahead ONLY IF…

Key Takeaways

Why is TAO attracting renewed attention?

Whales increased Futures Average Order Size, hinting at accumulation and rising confidence near $345.

What could define Bittensor’s next move?

A daily close above $345 may confirm a breakout, while rejection risks another consolidation phase for the token.

On the 7th of October, Bittensor [TAO] gained over 10% in the last 24 hours, briefly testing a major resistance zone near $345. The surge came as traders debated whether the move marked the start of a breakout or yet another stall within TAO’s prolonged consolidation phase.

At press time, the altcoin hovered below a descending wedge resistance — a level that has historically shaped its mid-term trend.

AMBCrypto examined whether growing whale activity and market positioning could fuel a sustained breakout, or if TAO’s momentum was already fading.

Whales re-enter the Futures market

CryptoQuant’s Futures Average Order Size data showed large holders steadily adding positions over the past two sessions. This steady accumulation aligned with the price uptick and could build pressure to clear the $345 resistance.

Historically, such whale clustering preceded breakout phases. The pattern reflected rising investor confidence in TAO’s short-term upside potential.

Source: CryptoQuant

At the same time, Volume Bubble Map readings revealed cooling momentum in both Futures and spot markets. This moderation signaled that short-term traders likely took profits while observing TAO’s behavior near resistance.

Source: CryptoQuant

Despite the pause, Spot Taker Cumulative Volume Delta (CVD) suggested buyers continued to dominate short-term activity, hinting that long-term participants may soon take control of Spot demand.

Source: CryptoQuant

Rising wedge resistance faces key test

On the daily chart, TAO appeared close to breaking out after months of sideways movement since April’s rally. Most analysts identified $345 as a decisive level; a daily close above it could mark a medium-term trend shift.

Failure to break above may trigger profit-taking toward support around $325.

Source: TradingView

Meanwhile, Stochastic RSI data from TradingView showed overbought conditions, implying that bullish momentum might be losing steam. A minor pullback to the $325 demand zone could precede any sustainable recovery.

Still, the broader outlook stayed constructive. Whale accumulation and strong Futures positioning supported a longer-term bullish bias for holders maintaining long exposure near current prices.

Breakout or rejection ahead?

TAO’s next move depends on how the price reacts to the wedge resistance. Sustained whale accumulation supports a bullish bias, but cooling volumes suggest caution.

A confirmed breakout above $345 could invite new buying interest. Failure to clear it, however, may prolong TAO’s consolidation phase, which has capped gains since April.