Tamadoge (TAMA/USD) Bulls Eyeing $0.0082 Support
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In our recent Tamadoge market analysis, we observed the market’s notable breach of bearish resistance, surpassing the $0.009 price level. However, the subsequent bullish momentum above this threshold proved short-lived, leading to a decline below $0.009 and the 20-day moving average. Despite this subtle downturn, bullish sentiment remains resilient, evident in the market’s capacity to withstand selling pressure.
Key Levels
- Resistance: $0.013, $0.014, and $0.015.
- Support: $0.0045, $0.0040, and $0.0035.
TAMA/USD Price Analysis: The Indicators’ Point of View
The market outlook, as depicted by the candlestick chart for the recent 4-hour trading session, indicates a standoff between bulls and bears. However, with the price gradually descending towards the $0.0082 level, traders may anticipate a substantial price rally from this point, given its historical significance as a pivotal support during previous bull runs. Additionally, dwindling trading volume as the market approaches this critical support suggests waning selling momentum, further bolstering the likelihood of an impending price rally.
Tamadoge Short-Term Outlook: 1-Hour Chart
However, upon examining the market from the 1-hour chart perspective, we observe the Bollinger Bands converging into narrower bands, indicating a tightening price channel. Additionally, there is evident effort (according to this crypto signal) from the bulls to sustain their position at $0.0084. The descent of price peaks suggests a potential further drop in the market. Nevertheless, bullish intervention is anticipated around the $0.0082 mark, drawing from historical market patterns.
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