Tamadoge (TAMAUSD) Is Still on the Trail of the $0.015 Price Level
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The Tamadoge market has been on a bullish recovery since the previous daily session. The TAMA bull market had initially tested the $0.015 price level in the first four-hour session of yesterday’s market. Also in the first four-hour session of today, the market rallied back to the $0.015 price level, but by the third trading session, the market retraced back to the equilibrium level, which is the $0.0146 price level.
Key Levels
- Resistance: $0.017, $0.018, and $0.019.
- Support: $0.013, $0.012, and $0.011.
TAMAUSD Price Analysis: The Indicators’ Point of View
There is a tug-of-war between demand and supply around the $0.0146 price level. Tamadoge bulls need to deal with the selling pressure, which is a result of long-term market holders who are taking their profits as the market hits or gets near the $0.015 price mark. If buyers can keep the price at $0.0146, which is also the equilibrium price level, they may be able to wear off the bearish sentiment and set the market back on course. For now, the Bollinger Bands indicator illustrates a downtrending price channel. The direction of the trend will change if the price action can remain above the moving average for a little longer.
TAMA/USD Short-Term Outlook: 1-Hour Chart
The market has been flat since 6 a.m. due to an intense struggle for market control. It seems the bearish sentiment around the $0.015 price level is strong, as is the bullish sentiment that has driven the market to this point. More bulls are needed to keep the market above the 20-day moving average a little longer to wear out the effect of long-term traders that are taking their profits.
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