Tamadoge (TAMA/USD): Support Level at $0.00858 Price Level: Continue to Hold Against the Ranging Bear Market
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On December 16, the market exhibited strong bullish momentum, approaching the $0.012 price target. However, the TAMA/USD market encountered significant resistance due to a cluster of sell orders and bearish sentiment around the $0.012 level. By reaching $0.0117, bears gained control, leading to heightened volatility. Nevertheless, the $0.00858 support level has proven resilient amidst the prevailing bearish conditions.
Key Levels
- Resistance: $0.013, $0.014, and $0.015.
- Support: $0.0075, $0.0073, and $0.007.
TAMA/USD Price Analysis: The Indicators’ Point of View
Recent bearish movements in the TAMA/USD market have amplified volatility levels. Despite this, bulls have solidified their stance around key support levels, leveraging the increased volatility to stave off further declines. The emergence of a lower shadow on the most recent 4-hour session candlestick suggests a potential upward reversal in the near term. Concurrently, the Bollinger Bands indicator indicates a wide-ranging price channel, emphasizing the market’s current volatility.
Tamadoge Short-Term Outlook: 1-Hour Chart
The 1-hour chart analysis indicates a divergence between the bearish candlestick pattern and the volume of trade indicator, the latter of which shows a minimal histogram. This discrepancy suggests that the ongoing bearish trend within the current 1-hour session may not be sustainable. Consequently, there is potential for a price rally at the present level.
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