Bittensor $TAO has recaptured the $300 mark, spurred by the historic Halving event scheduled to take place around December 15th. This is the first ever network supply cut that promise to completely change the token economic game.
š¹ Similar to Bitcoin, this event is hard coded and automatically triggered when 10.5 million TAO are mined not on a fixed date.
Block reward reduced from 1 to 0.5 TAO. Daily issuance reduced by 50% from 7,200 to 3,600 TAO, while total supply is hard capped at 21 million.
šø 4H: RSI at 62 strong but not overbought. Price is breaking the $317 - $330 resistance zone. Strong support at $276.
Daily Frame: RSI neutral (46.96) and MACD turning Bullish show that the Bull still have a lot of room to push the price.
š¹ A decisive break above $330 will open the way to $360. If the $400 - $420 zone is reclaimed, the path to the target of $520 will be completely open.
The scarcity of supply Halving combined with technical momentum is compressing the spring for TAO.
Do you think the Halving will be the push to push $TAO to the top or will it be a Sell the News event?
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