$TAO IS RETRACTING AFTER A HUGE RUN 😇😇😇 LET'S KEEP AN EYE ON IT 😁😁😁
The current price of TAO coin is $537.4 USDT, with a 1.40% increase in the past 24 hours and a 7-day decrease of 7.73% . Here are some key updates and insights:
*Market Performance*
- Market cap: $3.9B
- Volume (24h): $148.6M
- Circulating supply: 7.4M
- All-time high: $760.18 ²
*Price Analysis*
- Potential downside wedge formation, indicating a shift in momentum towards the downside
- Ascending corner pattern, suggesting a potential breakout
- Bearish and bullish trends, with some analysts predicting a breakdown and others expecting a continuation of the uptrend
*Technical Indicators*
- Oscillators: Neutral
- Moving Averages: Neutral
- Strong sell and strong buy signals
*Future Prospects*
- Bittensor aims to create a market for artificial intelligence, where machine learning models train collaboratively and are compensated in TAO
- Potential use cases for Bittensor include machine learning engineers, intelligence companies, trading firms, and network infrastructure companies
