- TAO’s integration on Coinbase exchange resulted in substantial buying pressure that raised its prices from $451.26 to $524.64.
- The market demonstrated high leverage which led TAO’s price to reach $700 but it then plummeted to stay between $300 and $400.
- RSI displays neutral behavior to suggest price stabilization before the market progresses further.
The cryptocurrency community has shown strong interest after Bittensor (TAO) received its listing on Coinbase platform.Historically, assets listed on Coinbase have experienced increased trading volumes and, in some cases, price appreciation.
TAO Soars on Coinbase Listing, Hitting New Highs
Following the listing announcement, TAO’s price has reached $451.26, reflecting a change of $72.38 from the previous close. This significant upward movement suggests that TAO has gained strong buying interest, likely due to recent developments such as its listing on Coinbase, which typically drives liquidity and demand.
TAO demonstrates an increase of 16.7% against Bitcoin value that stands at 0.004650 BTC. The 24-hour price range indicates significant market fluctuation through its movement from $379.02 to $450.85 with the current price surpassing all previous highs.
TAO’s Volatility: Liquidations Reveal Leverage Risks
The TAO Total Liquidations Chart shows TAO’s price, which started below $200 in late August and experienced a strong upward movement from early October, peaking above $700 in early December. Following this peak, the price exhibited volatility, with multiple pullbacks and a decline to the $300–$400 range by January.
The current trading price has established a support range from $300–$400. The price holding above $300 could lead to bullish momentum returning to TAO yet another falling below this level should initiate additional long positions liquidations prompting another price decline. This extreme level of liquidations reveals the existence of a leveraged market while making TAO subject to quick price variations through market sentiment and leverage dynamics.
Technical Indicators Signal Consolidation with Mixed Momentum
The MACD is trading above the signal line suggesting positive momentum and histogram at -13.08. This indicates that although momentum has improved, bearish pressure still lingers. The RSI is at 46.94, suggesting that the asset is nearing overbought conditions but remains in a neutral zone.
The price action suggests a phase of consolidation after previous volatility, with buy and sell pressures relatively balanced around the $454 level.
If bullish momentum continues and RSI moves further above 60, TAO could test higher resistance levels. Conversely, if RSI and MACD show further weakening, a pullback might occur. The market remains highly reactive to sentiment and liquidity conditions, making it susceptible to sharp movements.
