TAO Bullish Pennant Charts Path to $680 and $730 Price Targets

• The TAO weekly chart shows a bullish pennant with breakout targets projected between $680 and $730.
• The current TAO price stands at $343, while traders also watch support levels near $240 and $320.
• Analyst CryptoBullet said the pennant could deliver an easy twofold rise if the breakout confirms.

TAO showed a bullish pennant on the weekly chart, signaling a potential breakout that could send the token toward $680–$730. CryptoBullet shared the analysis on September 16, noting that the setup may deliver an easy twofold move from current prices near $343. Traders are now watching whether this formation confirms the next phase of the trend.

Weekly Pennant Formation

The weekly chart of TAO paired against USDT displayed a defined bullish pennant structure. This pattern developed after a strong climb in earlier sessions. Price action consolidated into narrowing ranges, forming converging trendlines. This consolidation suggested tightening conditions that often precede a significant directional move.

The pennant included a projected breakout arrow pointing upward. The target zone was set between $680 and $730, marking the upper range of the trading channel. At the time of analysis, TAO traded near $343. The suggested breakout would represent nearly a twofold rise in value. Such a move would place the token back near its prior peak ranges.

CryptoBullet noted that the formation looked “decent,” describing the setup as capable of delivering a straightforward twofold move. This observation drew considerable attention from traders examining chart structures.

Analyst Insight and Market Reactions

The post attracted more than 32,000 views within hours of publication. It quickly generated over 440 likes and 67 direct comments. One trader asked whether the market might experience a sweep to $240 before any upside move. CryptoBullet replied directly, stating no such drop was expected.

Another market participant inquired about waiting for a $320 level before entering long positions. The analyst explained that entry levels would depend on broader confirmation from market movements. This exchange highlighted active community interest in defining potential risk zones. The level at $240 was referenced as the lower channel boundary, while $730 was marked as the upper target.

The pennant’s shape gave traders a structured basis for decision-making. With both support and resistance zones mapped, participants gained a clear view of possible scenarios. CryptoBullet described the breakout target as the “top of the channel,” reinforcing the technical case for monitoring levels between $680 and $730.

Key Support and Resistance Levels

TAO’s trading structure showed a wide channel between $240 and $730. The pennant developed within this zone, signaling consolidation before a potential breakout. The support level at $320 remained under discussion in community responses. Some traders viewed it as a possible reentry point in case of short-term retracements.

CryptoBullet pointed instead to the strength of the pennant structure itself. The technical setup suggested accumulation rather than a deep move toward lower support. The main breakout projection directed attention to the $680–$730 range. This zone was labeled as Target 1 on the shared chart.

If reached, this target would mark a significant shift from current levels near $343. Traders described such a move as potentially doubling recent value. The pivotal question now driving discussions is clear: Will TAO confirm the bullish pennant and achieve the projected channel top?