Tamadoge (TAMAUSD) Is Ready for More Bullish Action
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TAMAUSD buyers have been able to conserve the bullish price at the $0.0267 price level. Usually, a strong bullish move is expected to trigger a strong bearish move in the market. But in the case of a very bullishly biased market such as this one, the bearish move may not last since the general force propelling the price is the bull market. The uptrend is resuming from the key support 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
According to the Relative Strength Index (RSI), the indication of an overbought market may be a contributing factor that forms the basis of the general decision among traders to short their position as the market still maintains a general bullish sentiment. But the price retracement contributed to the decline in bullish momentum. However, according to the Relative Strength Index, the RSI line ranges continuously at around 56. This indication can contribute to traders’ decisions to buy again. Bulls are going to form their new high demand level in the $0.030 price zone.
TAMA/USD Short-Term Outlook: (1-Hour Chart)
The 1-hour timeframe of Moving Average Convergence and Divergence (MACD) illustrates the bull market recovery as it shows the appearance of the faded red negative histograms. These histograms are a sign of the increasing entrance of bulls into the market. Also, the two lines are changing direction to the upside. Some traders are already entering the bullish position early to maximize their profit. The bulls are eyeing the $0.030 price level; they want to establish a strong support level there.
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