FxWirePro- TAOUSD (Chart of the day)

Bittensor is a decentralized peer-to-peer network for machine intelligence. The Bittensor protocol establishes a marketplace that transforms machine intelligence into a tradable commodity.

The Yuma consensus is a groundbreaking consensus mechanism developed by the Bittensor Network. It is a decentralized, peer-to-peer consensus algorithm that allows for distribution of computational resources across a network of nodes.

TAOUSD was one of the best performers the previous week.

Any weekly close above $800 confirms further bullishness.

TAOUSD surged more than 35% in the past three days. It holds above the short-term (21 and 55 EMA) and above the long-term moving average. It hit a high of $488.90 and is currently trading around $488.32.

The bullish invalidation can happen if the pair closes below $300. On the lower side, the near-term support is $450. Any break below targets $425/$393/$350. Any breach below $300 targets $200.

The pair's near-term resistance is around $535. Any breach above confirms minor bullishness. A jump to $580/$620/$700 is possible. A surge past $800 will take it to $1000.

.It is good to buy on dips around $425-30 with SL around $300 for TP of $750.

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