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The Bittensor Price has skyrocketed by 138% in the last seven days to trade at $659.55 as of 1:00 a.m. EST.
Bittensor Price Prediction: TAO Diplay’s Bullish Santiment
The chart is displaying a general uptrend as evidenced by higher highs and higher lows. The Bittensor price is exiting the upper boundary of the ascending channel, which suggests that the asset is at a potential resistance level as the price action is contained within the ascending channel, marked by two parallel trendlines that are sloping upwards.
On the other hand, the Money Flow Index (MFI) is at 66.18, which is relatively high and indicates buying pressure. This oscillator takes both price and volume into account, suggesting that there is significant money flowing into this asset. Additionally, the Average Directional Index (ADX) line is at 39.22, which indicates a strong trend.
However, the Bittensor price is approaching the lower trendline, suggesting a potential retracement or consolidation in the near term before attempting a retest on the upper resistance trendline. Additionally, with the MFI approaching having been in overbought territory (above 80) and now moving south, it could signal a potential pullback on the Bittensor price.
3-hour Bittensor/Tether chart | Source: TradingView
A Promising Alternative
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#PeckShieldAlert The address 0x9FCc…19Fe (Suspicious #JustinSun related) has withdrawn 6,166 $ETH (worth ~$13.8M) from #Binance pic.twitter.com/8jGbcwRvzg
— PeckShieldAlert (@PeckShieldAlert) December 26, 2023
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