Bittensor Token TAO Continued its upward trend on Monday, with a cumulative increase of about 25% over five trading days, and the price rose to a level not seen in nearly two months. The current focus of the market is on the $300 mark, which is regarded as an important short-term resistance level.

Unclosed contracts move higher in sync

CoinGlass Data shows that TAO the open interest of unsettled contracts rose to $428.57 million on Monday, hitting a three-month high. This indicates that as prices move upward, the market is continuing to add new positions, rather than just closing out existing contracts.

Rising prices, coupled with an increase in open positions, usually indicate a simultaneous resurgence in trading activity and risk appetite. However, the rapid accumulation of leveraged positions can also amplify subsequent fluctuations. Once prices suddenly fall, the pressure for liquidation may increase accordingly.

Raydium goes live, attracting attention

Raydium was launched the day before. TAO transactions took place. Subsequently, a fake coin named Buttensor ( BUTT ) was also introduced on that platform, and it formed a trading pair with TAO.

According to the project design, a portion of the transaction fees for BUTT will be automatically used to buy TAO, which will then be redistributed to the holders of BUTT. This converts the trading enthusiasm for meme into buying orders for TAO in the short term. However, whether this trend can continue depends on the subsequent trading volume of BUTT and the level of participation from retail investors.

The article also mentioned that after the release of ChatGPT-6 and Astra, there was a rebound in demand for AI concept-based crypto assets, and TAO was also driven by the sentiment in this sector.

$300 becomes a short-term observation level

From the trend perspective, TAO is currently operating above the 50-day, 100-day, and 200-day moving averages, which are roughly distributed in the range of $220 to $236. If there is a pullback in price, this area may provide support.

If the daily chart effectively breaks above $300, the market will next focus on the area around $369, which corresponds to the high recorded by TAO in September 2025. If the $300 level is resisted, prices may fall back to around $236; if that level is also lost, the areas below at $222 and $220 will become further support levels.

Overall, the TAO short-term trend remains strong, but after a series of increases, the market is also wary of a temporary cooling down due to potential reversals at high levels.