Kraken's Major Support for Bittensor: Could TAO Become the Next $100K Token?
- Market Recognition: Bitcoin's price surge to an all-time high of $126,000 demonstrates that digital assets can achieve previously deemed impossible price levels when adoption, demand, and scarcity align, setting a foundation for Bittensor and its native token TAO's future price target of $100,000.
- Kraken's Strategic Move: Kraken's recent integration of Bittensor's Dynamic TAO (dTAO) and the addition of seven Bittensor subnet tokens to its listings roadmap makes it the first major exchange to support multiple subnet tokens, significantly enhancing TAO's importance within the entire ecosystem.
- Potential Network Effects: Analyst Pumpolinsky argues that TAO serves as the reserve asset connecting various subnet economies, and as these subnets succeed, TAO's value and significance will increase, mirroring the successful model of Ethereum.
- Market Capitalization Outlook: With approximately 11.09 million TAO in circulation, a price of $100,000 would yield a market capitalization of about $1.109 trillion, positioning Bittensor among the largest crypto assets, highlighting its immense potential in the decentralized AI sector.
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Technical Analysis for AI
Technical Sentiment Analysis for Sleepless AI (AI). As of , Sleepless AI (AI) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sleepless AI (AI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00719 | 0.0124 | 0.0168 | 0.022 | 0.0264 | 0.0316 | 0.036 |
| Fibonacci | 0.0124 | 0.0161 | 0.0183 | 0.022 | 0.0257 | 0.0279 | 0.0316 |
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