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Bittensor (TAO) has dipped to its historically strong support level around $380. The token is currently priced at $402.52, reflecting a 5.72% daily gain despite a 1.62% weekly decline.
Analysts view this as a retest following a breakout on the daily chart. Anticipation of continued growth within the Bittensor ecosystem has some analysts eyeing $600 as a potential upside target, making the current price a possible buying opportunity for investors.
1/ $TAO ( @opentensor )
— Our Crypto Talk (@ourcryptotalk) June 5, 2024
➥ The price dropped to the $380 level which has been a great area to add for $TAO
➥ It's important to know that the breakout has already happened on the dailyt TF for $TAO and this is a retest.
➥ Expectation are high with this asset and the ecosystem… pic.twitter.com/LvMHoLk7h3
Render (RNDR) is hinting at a potential breakout. Trading at $10.44, RNDR has gained 4.38% in the last 24 hours and 1.48% over the past week. There are repeated rejections whenever the price dips below $10, suggesting strong long-term investor confidence in Render. This bullish sentiment bodes well for the asset’s future performance.
7/ $RNDR ( @rendernetwork )
— Our Crypto Talk (@ourcryptotalk) June 5, 2024
➥ One of the constituents of the long term #AI bags, $RNDR is building up for a big move here.
➥ The amount of rejections as soon as it slips below $10 shows the long term belief from the investors and this bullish cross on RSI is another positive.… pic.twitter.com/oQtmptEbS8
Solana (SOL), a well-established player, continues to deliver strong gains. SOL is currently priced at $173.36, reflecting a 5.17% daily increase and a 2.56% weekly uptick.
As per a post by Our Crypto Talks, SOL is forming a bullish inverse ‘head and shoulders’ pattern. Completion of this pattern, expected around $180, suggests a potential surge towards $220.
Long-term targets for SOL are estimated to be around $270. If this technical analysis proves accurate, SOL has the potential to reach new all-time highs, solidifying its position as a strong performer in the current bull market. The current price action and technical indicators paint a positive outlook for SOL.
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