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The Bittensor price dropped over 4% in the last 24 hours to trade at $366.60 as of 9:39 p.m. EST as investors decrease their holdings in the crypto.
Despite the recent pullback, the TAO price is still up 10% on the weekly time frame and more than 62% on the longer-term monthly time frame.
Bittensor Price Overcomes Resistance
Daily chart for TAO/USD (Source: TradingView)
The Bittensor price broke above the resistance level at $359.60 in the last couple of days. Should the altcoin establish a position above this mark, it could have a strong platform to rise off from and potentially try to flip the resistance at $421.20 in the short term.
However, a drop below the $359.60 level within the next 48 hours could invalidate the bullish thesis. Traders might then start to short the altcoin in this alternative scenario, which could cause the Bittensor price to drop to the key support at $295. Continued sell pressure might even lead to a drop to as low as $255.
Bittensor Price Could Drop Some More As Technicals Start To Flash Bearish
Technical indicators on the daily chart warn the Bittensor price might drop in the next 24-48 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are showing early bearish signs.
In the last 48 hours, the RSI line has started to level off in the high 60s as well as drop towards its Simple Moving Average (SMA) line on the daily chart.
The current RSI value suggests the Bittensor price is in oversold territory. If traders act on this, it could lead to some shorting activity and a potential bearish shift in power, which could be confirmed by the RSI falling below its SMA.
Meanwhile, the MACD line is collapsing towards the MACD Signal line on the daily chart as well. Traders might interpret this as an indication of weakening bullish momentum. If the gap between the two MACD lines continues to shrink, it could result in the Bittensor price entering a new bearish cycle.
As technicals continue to flash bearish for the Bittensor price, investors are buying into a new meme coin called MIND of Pepe (MIND). 99Bitcoins, a popular crypto YouTube channel with over 725K subscribers, predicts MIND could soar 10X after its launch.
The First AI Derivative Of A Major Meme Coin Brand
Frog-themed tokens, especially cryptos inspired by the iconic Pepe the Frog meme, have performed over recent months. MIND of Pepe now seeks to continue this trend, and maximizes its chances of success by introducing the first AI-powered PEPE derivative.
At the core of the project’s ecosystem is a cutting-edge AI agent that can monitor online chatter in real-time to spot any changes in market trends as soon as they appear. This is made possible through the computer model’s direct connections to social platforms such as X, Discord and others.
Once it spots a new trend, it shares its insights with MIND holders, giving them an edge over investors and traders that don’t hold the meme coin.
Not only can the MIND of Pepe AI observe from the sidelines, it can also steer the market narrative by actively engaging with influencers and other Web3 community members online.
It also has the ability to create its own tokens that align with the new trends, hype them up online, trade them, and reinvest any profits back into MIND. With each new token launch, the AI agent gives MIND holders the chance at first buy-in, setting them up for potential parabolic gains if the AI agent’s cryptos gain traction in the market.
Recently, the team announced that the AI agent will go live on May 10.
MIND Of Pepe Presale Charges Towards $9M
Investors are betting big on MIND of Pepe’s future, and have already sent more than $8.5 million to the project’s ongoing ICO. With the bullish predictions from experts like 99Bitcoins, combined with the project’s AI agent crypto and meme coin appeal, it’s no wonder a buying frenzy has erupted around the project at this early stage.
Investors that want to participate in the ICO can buy MIND through the easy-to-use widget embedded on the project’s website. Selling for $0.0037515, MIND can be bought with either ETH, USDT, BNB, USDC, or bank card.
After purchasing some MIND, investors can also lock up their tokens in the project’s presale staking pool. It currently offers a 268% APY.
Buyers that want to secure the best deal will want to act fast, however, because MIND’s price will increase as its presale progresses. The next price hike will take place in less than 2 days.
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