Bittensor’s TAO token broke above $300, reaching an intraday high near $319 after rising roughly 19% in one session. The move lifted its weekly gain to about 37% and came with approximately $715 million in 24-hour trading volume, although prices later varied across exchanges. The rally followed TAO’s break above the roughly $270 neckline of an inverse head-and-shoulders pattern, a positive daily MACD crossover and trading more than 20% above its 50-day, 100-day and 200-day exponential moving averages clustered between $230 and $238. Funding rates turned positive at about 0.0066%, while cumulative long liquidation leverage stood near $19 million versus roughly $2 million on the short side. Michaël van de Poppe identified a potential $360-to-$380 target range in the coming weeks. The advance formed part of a broader rotation into AI-linked cryptocurrencies as Bitcoin held above $85,000, with FET and Render also gaining. TAO’s network distributes emissions through specialized AI subnets, and recent reward adjustments, wider access through Base and direct fiat purchases have strengthened its market appeal. However, an RSI near 74, hourly bearish divergence and concentrated leveraged longs leave the rally vulnerable to a pullback toward $282 or $263. The $276 area is the key support level, while $320 is the immediate resistance before the projected target range.