Bittensor (TAO) forms a triangle pattern, indicating a potential breakout to $700

• TAO posts steady gains despite neutral broader conditions.
• Weekly performance reflects growing market confidence again.
• Chart signals extended consolidation within the long-term range.
• Grayscale Trust expands regulated access to TAO.

Bittensor (TAO) continues its positive price trajectory, showing strength despite a neutral market environment. The token climbed nearly 3.24% in the past 24 hours, and its weekly performance reflects a 4.74% rise, highlighting consistent upward momentum and growing investor confidence in recent sessions.

Source: CoinMarketCap

At the time of writing, TAO is trading at $280.85, supported by a 24-hour trading volume of $82.23 million, which represents a 51.94% decline. Its market capitalization stands at $2.93 billion, marking a 3.27% increase and reinforcing the sustained bullish trend surrounding the asset.

Also Read: Bittensor Breakout Watch: TAO Price Targets $688 to $1,500

Triangle Pattern Signals Final Consolidation Phase

The TAO 4D chart displays a broad corrective structure unfolding after its major impulsive rally topped near the previous high. The price continues to move within a long-term range, capped at around $700 and supported near $205, forming a contracting pattern. This behavior reflects extended consolidation typical of a macro Wave IV phase following a strong bullish advance.

The internal pattern follows a triangle in the Elliott Wave, where A to D have already been finished, while the action at $277 indicates TAO is caught between the mid-level points of support, while being in the boundaries of a liquidity spot known to have been a point of inflection for the Wave IV cycles before the start of a new trend.

Source: @Morecryptoonl

A completion of the triangle pattern above the $220-$240 support area would see TAO break out into Wave V on the premise of highly optimistic valuations. The target for the breakout would range between $950 and $1,450 based on market momentum. A strong fall below $200 would see the triangle pattern fail, raising the possibility of a longer W-X-Y trend with a target of $150.

Grayscale Trust Broadens Access to Bittensor Exposure

Grayscale Bittensor Trust provides investors a rule-governed and convenient way to have TAO exposure without being concerned about the underlying intricacies of acquiring or possessing the token. Essentially, a new financial product has been developed that wraps Bittensor’s native token in a more conventional investment vehicle.

The Trust shares attempt to replicate the market value of Bittensor minus expenses. TAO operates in a decentralized peer-to-peer network based on cryptographic principles, allowing for the effortless transfer of tokens. All these transactions are recorded in a transparent blockchain ledger for traceability while facilitating the overall incentive ecosystem in the network.

Also Read: Bittensor Halving in 11 Days: $TAO Hype vs. Harsh Miner Math