The Bittensor Price Is Challenging A Major Resistance Level

The Bittensor price soared over 12% in the last 24 hours to trade at $330.82 as of 11:45 p.m. EST as investors initiate an accumulation drive

The Bittensor price soared over 12% in the last 24 hours to trade at $330.82 as of 11:45 p.m. EST as investors initiated an accumulation drive for the altcoin.

With the recent gain, the TAO price has pushed its weekly performance deeper into the green. As a result, the altcoin is up more than 22% over the past 7 days.

The Bittensor Price Is Challenging A Major Resistance Level

4-hour chart for TAO/USDT (Source: TradingView)

The Bittensor price is attempting to overcome the resistance level at $337 after the altcoin printed a series of higher highs and higher lows on the 4-hour to form an ascending channel. Should the crypto break above the $337 threshold in the coming 24 hours, TAO could rise above the bullish channel and potentially soar to as high as $370 in the short term.

On the other hand, the Bittensor price getting rejected by the $337 resistance level could invalidate the bullish thesis. In this alternative scenario, the crypto might stand the risk of testing the immediate support at $295. A break below this technical safety net could then lead to TAO falling out of the ascending channel to the $255 mark.

Technicals Suggest The Bittensor Price Could Keep Rising

Technical indicators on TAO’s 4-hour chart suggest the Bittensor price might continue its climb in the coming 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing positive signs.

In the last 24 hours, the MACD line rebounded from the MACD Signal line to indicate that TAO has entered a new short-term bullish channel. What’s more, the MACD line is breaking away above the MACD Signal line. Traders might see this growing gap between the two lines as a sign of TAO’s positive momentum picking up steam.

Meanwhile, the RSI line also broke above its Simple Moving Average (SMA) line on the 4-hour chart in the past 24 hours to indicate that buyers have gained the upper hand against sellers. However, the RSI is now above 70, which might be seen as a sell sign by some traders because it suggests that TAO’s downside potential is greater than its upside potential.

As TAO looks to continue its ascent, layer-2 meme coin Pepe Unchained (PEPU) has roared past the $10 million mark in its presale.

A Turbocharged PEPE With Its Own Chain

Pepe Unchained (PEPU) aims to enhance the popular frog-themed PEPE, which has been held back by the scalability limitations of the congested Ethereum network.

Current holders of the meme coin have had to put up with high transaction fees and slow processing times as more tokens and projects make their way into the Ethereum ecosystem.

Pepe Unchained will move PEPE’s transaction processing work off of the Ethereum mainnet onto a dedicated layer-2 chain through the launch of PEPU.

This will not only reduce transaction fees to a fraction of what they are now, but will also unlock speeds that are up to 100 times greater than that of any token deployed on the Ethereum mainnet.

Investors will also be able to simultaneously protect their assets using Ethereum’s robust security framework while enjoying Pepe Unchained’s lightning-quick transaction speeds due to cutting-edge bridging technology.

With everything Pepe Unchained has to offer, it is easy to see why an analyst from the renowned 99Bitcoins YouTube channel has named PEPU as a top crypto to buy now.

Investors Rush To Buy PEPU At Presale Prices

Pepe Unchained has raised more than $10 million through its ICO so far. Funding is likely to continue pouring in as investors rush to buy PEPU at presale prices and try to gain access to the 199% APY on offer through the project’s staking program.

Pepe Unchained will alter the course of meme coins forever.

The whole world is starting to take notice.

$10 Million Raised.

This is a MONUMENTAL MILESTONE! Get ready for fireworks! pic.twitter.com/yrmU0WuvhV

— Pepe Unchained (@pepe_unchained) August 22, 2024

To unlock these rewards, investors will first need to acquire the token via the buy widget embedded on the project’s website.

Selling for $0.0092364, PEPU can be bought using either ETH, USDT, BNB, or bank card. Once purchased, the tokens will need to be locked up through the staking page on the website to get in on the high APY.

Investors looking to get the

The above is the detailed content of The Bittensor Price Is Challenging A Major Resistance Level. For more information, please follow other related articles on the PHP Chinese website!