Bittensor TAO Is Attempting a Major Elliott Wave Breakout

 


Bittensor's TAO token has caught attention from technical traders this week as the 4-hour chart begins to show what could be the early stages of a third Elliott Wave move to the upside.

The analysis originates from More Crypto Online, a widely followed crypto charting account on X. The chart, posted on the Bittensor/USDT 4H pair on MEXC, shows TAO trading near $287 after recovering from a corrective low near $116 earlier in 2026.

Elliott Wave theory breaks price moves into five impulsive waves and three corrective ones. In the current TAO setup, waves one and two appear to have completed from the $116 base. The ongoing price action is attempting to build out wave three, which is typically the strongest and longest of the five-wave structure.

Two Fibonacci extension targets sit clearly above current price. The first lands at $427.96, mapped at the 61.80% extension. The second, more extended target, sits at $504.44 at the 78.60% level. Neither of those is in play unless TAO clears the $305 resistance zone with conviction.

On the downside, $226.76 is the key support to watch. That level marks the 61.80% retracement of the prior move and lines up with what the chart labels as a second-wave low. Losing that level would push TAO back toward the longer-term orange support band near $116.

For anyone watching this token, the current range between $250 and $305 is the critical decision zone. Buyers have been defending this area, but a breakout above $305 is still required before the wave three target near $427 becomes the active scenario.

TAO has been gaining traction alongside broader interest in decentralized AI infrastructure, and the token's technical setup is now getting attention from chart-focused traders.

For the full breakdown of the TAO chart, the Fibonacci targets, and the Elliott Wave count, visit CryptoNewsLive.org where the complete analysis has been published.

CryptoNewsLive.org covers crypto price analysis, blockchain developments, and emerging market narratives with a focus on data-driven reporting.

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