TAO cleared $202.50 as whale orders, spot buyer flows, and Open Interest all climbed, putting the $240 level in focus.
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Bittensor's TAO eyes $240 after breaking $202.5 resistance
TAO cleared $202.50 as whale orders, spot buyer flows, and Open Interest all climbed, putting the $240 level in focus.
Bittensor's TAO rose above $202.50 on Aug. 9, clearing the 20-day and 50-day EMAs as whale orders and Open Interest climbed toward a $240 target.
CryptoQuant data show Futures Average Order Size rising around TAO's current price, with Spot Taker Cumulative Volume Delta confirming buyer dominance in the spot market.
Open Interest climbed 12% to $140.2 million, while trading volume reached $128 million, according to Coinalyze and Santiment. The token remains inside a bullish flag pattern that has held since March.
A sustained break above the 100-day EMA at $220.62 would open the path toward $240, with the $205-$220 zone the immediate test for buyers.
Whale flows and Open Interest back the breakout
The Futures Average Order Size metric, tracked by CryptoQuant, shows large whale orders increasing around TAO's current trading price, pointing to greater participation from bigger market players. Continued accumulation near $200 could provide the demand needed to defend the recent gains.
Spot Taker CVD data also show aggressive buyers absorbing available sell-side liquidity. If that buying pressure holds, it would give the spot-market confirmation required for TAO to maintain momentum and challenge higher resistance.
The 12% jump in Open Interest to $140.2 million marks a sharp rise in capital entering the derivatives market during the recovery. Rising Open Interest alongside price gains typically points to traders expecting further upside, and the added open positions could supply the volatility needed to push toward $220.62 and eventually $240.
Trading volume climbing to $128 million confirms stronger participation behind the three-day rally. Sustained volume at elevated levels would help confirm the breakout and give buyers enough momentum to test the upper boundary of the bullish flag.
The setup mirrors broader altcoin strength, with Bitcoin's dominance easing as capital rotates into higher-beta tokens. TAO's move above $202.50, backed by rising whale activity, buyer-dominated spot flows, and growing Open Interest, keeps the bullish structure intact. If buyers hold the $205-$220 zone, a break above the 100-day EMA at $220.62 could clear the way for the $240 target, a level that would likely draw fresh derivative liquidations and additional flows into the Bittensor network.
This article is for informational purposes only and does not constitute investment advice.
