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Bittensor is trading at $302.45, a 3.06% increase, clearing the four EMAs as well as the SAR of $260.24.
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Jensen Huang, Chamath Palihapitiya and Bittensor’s decentralized 72B model training have all endorsed it as a technical milestone.
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Rob Greer, an investor, called TAO “the best value” in crypto and AI. He cited a $3B valuation compared to OpenAI’s $850B.
Bittensor has risen above $300. The daily chart shows that all four EMAs have been cleared, the SAR has been flipped into support and the price is pushing towards the $310-$320 resistance zone, which capped the March 20, spike. The chart is building a strong case and the people who are talking about TAO at this time are not anonymous Twitter accounts.
All Four EMAs cleared for the First Time since November
TAO’s price fell to a low of $140 by late January, after a four-month brutal slide from its peak of $520. Since then, the price has carved out higher lows, and is now trading over the 20-day EMA of $251.10, the 50-day EMA of $227.67 and the 200-day EMA of $265.82. The SAR at $251.24 has turned into support.
The zone between $300 and $320 is the last significant resistance before open-air. It rejected the price two times this month, once on March 20, and again during the spike. A daily close above $300 would break the structure which has held since November highs, and bring $380 to $400 into view.
Key Levels:
- Support for SAR: $260.24
- 200-day EMA: $265.82
- Resistance zone: $310 – $320
- Target above: $380 – $400
The Value Argument
Rob Greer’s argument on The Rollup, however, is straightforward and difficult to dismiss. The market cap of Bittensor’s decentralized AI infrastructure is approximately $3 billion. OpenAI has a market cap of $850 billion. OpenAI-based enterprise AI startups are raising tens or even hundreds of billions of dollars with small teams, and without a clear competitive moat. Where does the valuation go if AGI becomes open source and runs on local hardware?
Greer said TAO was the best value for both crypto and AI. He also said that the Bitcoin of AI story is what retail will eventually latch on to, especially as AI begins to replace white-collar work at scale. Crypto analyst Michael van de Poppe identified $220 to $250 as the key buying area. This is exactly where the price found its bottom in late February, before the current run started.
Jensen and Chamath and the Decentralized AI Moment
Jensen and Chamath and the Decentralized AI Moment
Jensen Huang, NVIDIA’s Jensen Huang, did not mean to be a snide comment when he called Bittensor’s distributed training of a model with 72 billion parameters a pretty amazing technical achievement on the All-In Podcast. It is difficult to train a model of that size using commodity internet connections and 70+ contributors without a centralised GPU. It is the fact that this happened on only one subnet of 128 that gets people’s attention.
Chamath Palihapitiya asked Huang to clarify the issue. Both men are known for not endorsing projects indiscriminately. Jacob Steeves, co-founder of Bittensor, has compared Bitcoin to the United States while TAO is a state in its own universe. He sees the two as complementary and not as competitors.
Outlook: TAO Price
- Bullish Case: TAO is above the 200-day EMA of $265.82 and closes a candle daily above $320. The endorsement cycle drives new institutional positioning. The next target is $380 to $400, with an all-time high of $520 in sight if momentum continues.
- Bearish Case:$310-$320 resistance holds again. Price pulls back under the SAR of $260.24. The 100-day EMA, at $236.69, would be the next level of support. A drop below $220 would bring us back to the buy zone that analysts highlighted last month.
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