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 that has been developed by the Bittensor Network.It is a decentralized, peer-to-peer consensus algorithm that allows for the 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 45% in the past ten days. It holds above the short-term (21 and 55 EMA) and above the long-term moving average. It hit a high of $700 and is currently trading around $672.90.

The bullish invalidation can happen if the pair closes below $460. On the lower side, the near-term support is $620. Any break below targets $580/$550/$500. Any breach below $460 targets $394/$300.

The pair's near-term resistance is around $750. Any breach above confirms minor bullishness. A jump to $791/$850 is possible. A surge past $850 will take it to $1000.

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 It is good to buy on dips around $580-85 with SL around $460 for TP of $800.