Grayscale has made another sharp move that could bring one of the most promising AI tokens into the crypto big leagues.
Technical indicators also support it: judging by the chart, the token has every chance to return to its April 2024 high.
This altcoin could stand alongside BTC and ETH in Grayscale’s structures
Grayscale may expand its line of trusts with TAO—the token of the Bittensor project, which is quickly gaining momentum in the AI sector. The company has already filed a SEC application via Form 10, opening the way for public reporting and, in the future, an exchange listing.
If approved, the trust will be required to publish 10-K, 10-Q and undergo audits. This will not only increase institutional trust, but also make the product formally comparable to flagships like GBTC and ETHE.
According to Grayscale, they aim to turn TAO into a full-fledged investment instrument with a transparent regulatory framework. The goal is to increase asset accessibility and strengthen trust:
“This is the first step towards public status and SEC reporting,” the company noted.
At the same time, Grayscale plans to bring the trust to OTC Markets—so TAO can enter the portfolios of not only major players but also retail traders. This also brings the project closer to launching its own exchange-traded investment product.
According to on-chain data, interest in TAO is only growing. Currently, this token accounts for a third of the entire information space in the DePIN sector—decentralized physical infrastructures. For Grayscale, this could be a chance to capture a niche not yet occupied by competitors.
TAO forecast: can the price reach a new 2024 high?
TAO may be preparing for a strong impulse—a narrowing pattern known as a falling wedge has been forming on the chart since October 2024. This formation usually appears before an upward reversal, and it is now close to completion.
The technical breakout target is determined by the height of the wedge. Based on current calculations, the potential move is up to 236%. This means that if resistance is broken, the price could reach $1,353—above the historical high of $1,248 set on April 11.
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But before talking about growth, TAO needs to overcome an important level at $402.3. This is where the first key resistance lies. Without a confident candle close above this mark, it’s too early to talk about a full reversal. The next confirmation of a bullish scenario is a solid hold above the $499.6 zone.
Growth is also supported by the RSI: the indicator has not yet entered the overbought zone (currently at 63), and its upward movement indicates increasing buying pressure.
The volume structure completes the picture. Green horizontal candles on the chart show that the main bull support is concentrated above $402.3. Here, traders seem ready to actively interact with the price.
Bittensor (TAO) price dynamics. Source: TradingView
If the price fails to consolidate above the upper boundary of the wedge, the scenario will change. In the area below $219.6, according to volume data, sellers are active—black horizontal candles indicate readiness to sell. If the level does not hold, TAO risks falling to the lower boundary of the pattern, which is now around $130.3.
