Tamadoge (TAMAUSD) Momentum Is Building; Buy Now!
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Looking closely at the Tamadoge market, one can see that the bull market is slow due to the presence of bears in the market. Despite bearish resistance and the tight market situation, TAMAUSD has made a major bullish recovery. The tight market situation may be due to a temporary low volume of trade.
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
The outlook of the market from April 20 up until today has formed a falling wedge triangle pattern. Such candlestick formations are an indication of a bullish price reversal. This bullish breakout was expected to have taken place since May 11, when the market crossed the 20-day moving average. At that point, the Bollinger Bands indicator began to contract as the bulls caught up with the bears and got even with each other. The lower volume of trade might be contributing to the slowing of the bullish move. But the market is all set up for an uptrend, as it continues to maintain its position above the 20-day moving average despite the convergence of the support level and the resistance level.
TAMA/USD Short-Term Outlook: 1-Hour Chart
Scaling down the view into a 1-hour timeframe, we can see that the market is truly in an uptrend, although with much contention from the bearish zone. The bull market took its basis from the $0.0155 price level on May 10, and as the bears were also formidable, the market initially experienced a wide swing between the two markets. The volatility, however, cools off on May 12, and by May 15, the buyers again become strong enough to propel the bull market. Currently, the price is $0.017; the bull market still has more to offer.
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— TAMADOGE (@Tamadogecoin) May 16, 2023
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