#TAOUSDT | DAILY TIMEFRAME UPDATE
2024-10-22

#TAOUSDT | DAILY TIMEFRAME UPDATE

Fundamental Analysis of #TAO 👇👇

#Bittensor is a decentralized network that enhances machine learning by allowing nodes to contribute their expertise through a consensus mechanism called Proof of Intelligence, which rewards accurate outputs. Utilizing a decentralized mixture of experts model, it fosters collaboration among neural networks to tackle complex problems and democratize access to #AI technologies. The native token, TAO, facilitates transactions within the network and has a capped supply of 21 million, similar to #Bitcoin.

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Technical Analysis of #TAO 👇👇

One of the altcoins I'm currently watching is #TAO.

This analysis is based on the weekly and daily charts, with a long-term to mid-term outlook. If the price of #TAO reaches the $451 - $367 zone, it may present a potential buying opportunity.

As mentioned earlier, this analysis focuses on higher time frames, so it could take time for the price to reach this area—patience is key.

Once #TAO enters the $451 - $367 range, we'll look for confirmation on the 4-hour chart before considering any entries.

Once the price enters the grey area and provides confirmation, I'll share the targets. ✅

If the price drops below $217, the setup will be invalidated.