Tamadoge (TAMAUSD) to Bounce Back From the $0.013 Price Level
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The Tamadoge bull market failed to reclaim the $0.015 price level, which made it fall back to its bullish support at the $0.014 price level. However, this level became unable to keep Tamadoge bears at bay. The support was broken, and now we expect to see a rebound from the $0.013 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
The long-term hovering session in the Tamadoge market has significantly affected the market. Long-term traders seem to be taking their profits at any slight market gain. This is resulting in lower high formations on the trading chart. Also, even the new investors, since volatility in the market has increased, seem to be taking their profits too soon. However, looking at the market from the perspective of the indicators, it is very likely that the market will bounce back from the current support level. The Moving Average Convergence and Divergence (MACD) indicator now has faded red histograms with a bullish crossover below level zero. The market is in recovery; buy now!
TAMA/USD Short-Term Outlook: 1-Hour Chart
From a 1-hour timeframe perspective on the market, the indicators seem to be portraying indecision in the market. According to the Bollinger Bands indicator, the market ranges slightly below the 20-day moving average. The appearance of the candlesticks suggests that there is less tension in the market; this could also mean that trading activities for today are not that intense. As soon as the trading volume begins to increase, we should see the market reclaiming higher price levels.
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— TAMADOGE (@Tamadogecoin) June 11, 2023
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