Tamadoge (TAMAUSD) to Make $0.02 as the Basis for the Next Uptrend
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Towards the end of the daily trading session on May 8, the TAMAUSD Market pumped furiously and tested the $0.02 price level a number of times. Although a downward market was triggered after this from around the $0.02 price level, stronger bullish sentiment kept the market secured on a higher support price level of $0.016. With a demand level closer to $0.02, buyers have their target within reach. But they will have to first deal with the bearish encroachment at the $0.0173 price level.
Key Levels
- Resistance: $0.035, $0.040, and $0.045
- Support: $0.015, $0.014, and $0.013
(TAMAUSD) Price Analysis: The Indicators’ Point of View
As portrayed by the Bollinger Bands indicator, the downward-trending price channel stopped at the $0.0139 price level on May 8. Bullish sentiment is expected to grow around this price level, as the market is back to where the bull market started on April 16. Buyers are making impressive moves to claim the $0.02 price level, but the strong resistance has trimmed the bullish price to $0.018. With the new support level sitting on the 20-day moving average, the price channel still shows an upward movement. Therefore, the bulls’ target of the $0.02 price mark is achievable before today’s trading session is over.
TAMA/USD Short-Term Outlook: 1-Hour Chart
From the latest 1-hour session, we can see the bullish rush peaking at the high of $0.0179 as some traders made their quick gains. Before this significant bullish price movement, the market had been experiencing indecision since the daily session started. Bullish activities are expected to grow after this spike. This is expected to propel the market toward the mark.
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