TABOO TOKEN (TABOOUSD) Potential for a Bullish Continuation
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TABOO TOKEN (TABOOUSD) Price Forecast: February 17
TABOOUSD has the potential for a bullish continuation as the coin trades above the supply trend levels. The nearest resistance of the crypto is between levels $0.00159 to $0.00168, whereas the most immediate resistance is found around $0.00168. There is a higher probability of a price-breaking resistance zone if the buy traders can double their efforts.
Key Levels:
Resistance Levels: $0.00150, $0.00160, $0.00170
Support Levels: $0.00130, $0.00120, $0.00110
TABOO (USD) Long-term Trend: Bullish (Daily Chart)
TABOOUSD indicates an upward trend with a bullish sentiment in its long-term perspective. The coin is trading above the two EMAs. However, the market is presently facing resistance at the recent high.
The bulls’ action increases the price up to the $0.00168 resistance level even as the daily session opens today. A break above $0.00235 would intensify the buying pressure on the crypto.
Next, is the fact that the market is pointing upwards on the daily stochastic, this will draw more buy traders to the market for a bullish continuation pattern, if that occurs the price could further climb toward a $0.0200 upper high level and this will add to the bullish race in the future in its long-term outlook.
TABOO (USD) Medium-term Trend: Bullish (4H Chart)
In the medium-term time frame, the price of TABOOUSD made higher highs and higher lows, but recently, the trend has changed with the price in red slightly above the moving averages. However, staying above the supply mark will give the coin buyers the tendency to influence the price actions.
TABOO TOKEN’s price at the $0.001581 low level can be seen above the two moving averages; therefore, if the bulls increase their tension in the market, the price tendency will rise above the key levels.
In addition, the coin is in an upward direction on the daily stochastic, more buyers’ participation is a prerequisite at the moment. We expect the price to test the $0.02000 upper resistance value amid sustained buying pressure in the coming days in its medium time frame.
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