Bittensor(TAO) Breaks Resistance With Strong Rally—Can It Hit $600 Next?

In Brief

• TAO rallies over 50% after breaking resistance, now trading above $530 with strong momentum.
• Technical charts show a bullish engulfing pattern and daily breakout above key levels.
• Institutional interest rises as spot volume hits $1B and TAO ETP launches in Europe.

Bittensor(TAO) has shown strong price action in November, supported by technical breakouts and rising institutional interest. On the monthly chart shared by CryptoBullet1, TAO formed a bullish engulfing candle, indicating a potential trend reversal.

The token rose 5% this month to trade around $505, after hitting a high of $539 and a low of $480. At the same time, daily gains reached 6.82% as TAO/USDT broke above $480, turning resistance into new support.

Analyst TedPillows identified this breakout near $354, and TAO has gained over 50% since his original setup call. The recovery gained strength with confirmation on the daily timeframe, pointing to continued bullish pressure if momentum holds.

Meanwhile, TAO/BTC jumped 36.17% this week to 0.004815 BTC, its highest level in nearly a year, according to TradingView. Michaël van de Poppe noted this breakout follows months of consolidation, with the uptrend now confirmed above short-term moving averages.

Although the rally suggests improving sentiment across the altcoin space, the pace may moderate if profit-taking expands. However, strong technicals and renewed volume may help sustain short-term upside.

Institutional Onramps Expand as TAO Trading Hits $1B Milestone

TAO reached a major milestone by crossing $1 billion in daily trading volume for the first time on November 1. Centralized exchanges contributed over $940 million, while decentralized platforms added $51.5 million, reflecting rising demand.

Safello and Deutsche Digital Assets launched Europe’s first physically backed TAO ETP, offering 10% annual yield through staking. BitGo holds the underlying tokens in cold storage, creating a compliant bridge for institutional capital.

As a result, spot volume surged 109% to $950 million, and derivatives open interest rose 64.8% to $446 million post-launch. However, netflow dropped from $18 million to $7 million, suggesting some profit-taking after the ETP listing.

With the halving scheduled for December 10, daily emissions will drop from 7,200 to 3,600 TAO, creating supply pressure. Although similar to Bitcoin’s model, the impact may vary depending on miner behavior and continued demand growth.