Tamadoge (TAMAUSD) Is on the Trail of $0.035 Price Level
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After the price retracement, which is a correction from overbought territory, the Tamadoge bull market was quick to spring into action before the 20-day moving average caught up with it. This quick bullish recovery has salvaged the bullish trend as it keeps the market trending despite high volatility. However, the bulls have some major hurdles to overcome on their way to the $0.035 price level.
Key Levels
- Resistance: $0.035, $0.040, and $0.045
- Support: $0.025, $0.020, and $0.015
Tamadoge (TAMAUSD) Price Analysis: The Indicators’ Point of View
A resistance is forming around the current price area. This means that the bearish pressure seems to be shifting the resistance to a lower level. This opposing pressure from the bull market and the bear market can result in a consolidation trend if the deadlock continues. Also, it can cool off the volatility, after which the market can continue to trend to the upside. As for the Relative Strength Index (RSI), the momentum of the bull market is continuously measured at level 62. That means the bulls are still in control.
TAMA/USD Short-Term Outlook: (1-Hour Chart)
From the 1-hour point of view, we see that the bulls are much more aggressive. This is what has kept the market in an uptrend. The Bollinger Bands indicator illustrates the uptrending price channel. However, as resistance forms at $0.0313, the 20-day moving average may catch up with the price. If this happens, the market is going to range sideways around that level, before the bulls continue to propel the market to the upside.
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