Bittensor’s token, TAO, traded near $415 on Oct. 27 after retracing slightly from its recent rebound above $420. The token had recovered more than 52% since Oct. 11, when buyers defended key support levels around $275. Additionally, the token’s recovery following the Oct. 10 flash crash has put TAO price on the brink of confirming a bullish technical setup.
The daily chart showed the TAO USD pair forming a bull flag setup, a continuation pattern often following strong rallies. The price moved within converging lines while holding above its 20-day and 50-day exponential moving averages. The structure set up a theoretical price target of nearly $660 for the Bittensor token, though emphasis must be given to the theoretical part. A more practical target would be near $500-520, about 50% of the projected spike from current levels.
Several analysts reinforced the bullish outlook. Shun pointed to a potential Elliott Wave triangle ahead of the December halving. Satoshi Flipper described the setup as a textbook pennant ready for a breakout. Analyst Nebraskangooner confirmed the breakout attempt from a descending trendline. Their combined analyses aligned with optimism surrounding TAO’s first halving event, expected to occur on Dec. 11.
Analysts Eye Bullish Continuation as TAO Consolidates
The bullish setup drew close attention from prominent market analysts who tracked TAO’s price structure across multiple timeframes. Shun identified a running triangle pattern on the 4-hour chart. The token has marked successively higher lows since mid-October.
The analyst noted that the pattern aligned with the approaching first TAO halving on Dec. 11, viewing it as a potential catalyst for a continuation rally. Shun placed his invalidation level below $365, implying the bullish bias would remain intact unless the price broke beneath that threshold.
Independent market analyst, Satoshi Flipper, in a separate analysis, described TAO’s structure as a “perfect pennant” forming after a strong leg up.
Flipper’s chart showed a tight coiling range between $390 and $430, suggesting accumulation rather than exhaustion. The analyst expected a sharp move once TAO price cleared the upper boundary, with the breakout target extending beyond $480.
CCIETrader offered a more liquidity-focused view, noting how TAO had absorbed sell pressure near $400. The market commentator’s intraday chart showed stable volume nodes forming along that range, indicating that buyers continued to build positions during consolidation.
Moreover, RSI hovered around neutral territory, leaving room for another upward push if momentum expanded.
Meanwhile, Nebraskangooner emphasized a trendline breakout on the daily chart. The analyst highlighted TAO price’s reclaim of its descending resistance and argued that the pattern confirmed structural strength above $380.
If volume is sustained, the setup suggests continuation toward the mid-$400 region.
Together, these readings presented a cohesive outlook: Bittensor’s market structure remained technically intact, with consolidation pointing toward a possible bullish continuation heading into the halving-driven cycle.
Halving Narrative Fuels Broader Market Optimism
The technical momentum coincided with rising interest in Bittensor’s upcoming halving event, which many traders viewed as the next major driver of price action. Market participants linked the tightening supply dynamics to the bullish technical structures already forming across charts.
Market participant Harry compared Bittensor’s emission cycle to Bitcoin’s early years, noting striking similarities between both assets’ timelines from launch to halving.
The analyst also argued that TAO’s first halving, expected in December, mirrored Bitcoin’s 2012 cycle and could trigger a similar post-halving surge. Harry’s projection table placed TAO’s first major peak near $750, with longer-term extensions reaching multiples of that value through 2026.
RTS of RTradeAcademy expanded on the fundamentals, calling TAO’s halving a structural supply shift rather than a scheduled marketing event. Additionally, the analyst explained that Bittensor’s emission model decayed continuously with every block, unlike Bitcoin’s fixed four-year cuts. The reduction in daily supply, combined with growing AI network utility, could create what he termed a “double supply shock”—fewer new coins and sustained real-world demand from AI compute markets.
Above all, the convergence of tightening supply, technical compression, and expanding AI utility framed Bittensor as one of the few tokens combining scarcity with practical demand