Tamadoge (TAMAUSD) Is Ready for Another Bullish Cycle
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The day started with a very strong bullish move, after the previous day took Tamadoge to the support level price of $0.02. Buyers gathered around this price level in the first 4-hour session of today and completely took control of the market. They attempted the same thing in the second 4 hour session, but the bear market was triggered at $0.0289 and that brought the market back to the demand level, which is the $0.02 price level. This particular demand level is very important has it has conserved about half of the ground the bulls have gained in the bullish rush that climaxed on April 20. Back then, the bull market took up from $0.01347 support price and stopped at $0.037
Key Levels
- Resistance: $0.035, $0.040, and $0.045
- Support: $0.019, $0.018, and $0.015
Tamadoge (TAMAUSD) Price Analysis: The Indicators’ Point of View
Today’s bull market was cut short at the recent resistance level, which is at $0.0267, and the market have fallen below the 20-day moving average. This sharp turnaround in the market did not allow the Bollinger Bands indicator to change direction as it continue to maintain the down-trending price channel. However, judging from the historical behavior of this market, a bullish trend will be triggered at the current price level. Traders should be ready to buy again in order to maximize profit. The $0.035 should be the next stop.
TAMA/USD Short-Term Outlook: 1-Hour Chart
From a 1-hour outlook on the Tamadoge market, we can see that the buyers are not willing to buy at prices below the support level, therefore the bearish price has been cut short. Also the recent candlestick on the chart suggests strong tug-of-war as bulls gain strength at the current level. The Moving Average Convergence and Divergence (MACD) and the Relative Strength Index (RSI) suggest indecision in the market. This brief price consolidation should culminate in bullish trend and the next stop should be $0.035.
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