Examining the odds of TAOs price repeating its 59% rally from June
Bittensors [TAO] price action has been pretty interesting lately. Despite appearing in the trending tokens list, TAO fell consistently on the daily charts. In the last 24 hours alone, it lost more than 2% of its value. Its daily volume of $90 million followed a similar trend too. In fact, the liquidity levels suggested that TAO may be making lower lows, while on the charts the altcoin seemed to be forming a base for a potential reversal. Hence, the question: Can TAO bounce back from $180 as it did before? TAO joins trending tokens list as volume spikes According to CoinGecko, TAO made it to the list of the markets top trending tokens, ranked at position seven. DeXe [DEXE], Pudgy Penguins [PENGU], and Zama Protocol [ZAMA] were some of the other tokens in this list. This resulted in an increase in chain activity, as evidenced by the real-time transaction volume. The last 200 transactions on the network saw more than 100 TAO tokens traded at a time. Source: TaostatsTAO liquidity to shape the next move That‘s not all though as liquidity apparently influenced TAO’s price moves more than its on-chain activity. Over the last few days, for instance, heavier liquidity was stacked between $220 and $255, while