Date: Sat, Sept 06, 2025 | 05:20 PM GMT
The cryptocurrency market is continuing its choppy consolidation as Ethereum (ETH) hovers around $4,280, cooling off from its recent high of $4,954 — a drop of more than 13% in just weeks. This weakness has spilled over into major altcoins including Bittensor (TAO).
TAO is trading in the red, but beneath the surface, the chart is highlighting a potential harmonic setup, suggesting the token could face a bit more downside before staging a meaningful rebound.
Source: Coinmarketcap
Bullish Gartley Harmonic Pattern in Play?
On the daily chart, TAO appears to be forming a Bullish Gartley Harmonic Pattern. The recent decline has pushed the price deeper into the final leg (CD), moving closer to the Potential Reversal Zone (PRZ).
This PRZ is positioned near the 0.786 Fibonacci retracement of the XA leg, aligning around $237.5. Historically, this area often serves as a strong base for bullish reversals if supported by enough buying momentum.
Bittensor (TAO) Daily Chart/Coinsprobe (Source: Tradingview)
Reaching this PRZ could mean a 25% drop from the current price of $316.3, but it may also set the stage for the next upward wave.
What’s Next for TAO?
If TAO confirms a bounce at the $237.5 PRZ, the Gartley pattern suggests an upside recovery with key targets:
- First resistance near $366.7 (0.618 retracement level).
- Potential full extension around $488.8 if bullish momentum extends further.
