Technical indicators provide further insights. The Relative Strength Index (RSI) sits at 60, suggesting a moderately bullish momentum without venturing into overbought territory. The MACD indicator presents a value of 2.95 against a signal of 27.89, implying a bullish trend as the MACD line hints at crossing above the signal line.

The 50-day Exponential Moving Average (EMA) is at $392.00, underscoring a solid upward trajectory from recent price levels.

Chart patterns indicate that TAO is buoyed by an upward trendline, with a current support just above the $420 mark. A potential break below this level could lead to tests of lower support zones. However, a bullish engulfing pattern forming over the trendline suggests an inclination towards buying, though a double top formation near $469.14 could present resistance.

In conclusion, the overall trend for Bittensor appears bullish above the pivot point of $435.61. The short-term forecast anticipates the asset testing the immediate resistance at $469.14 in the coming days, provided it maintains its momentum above the pivotal support.

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