Tamadoge (TAMAUSD) About to Explode, Door of Opportunity Is Closing
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Since May 11, the struggle for the TAMAUSD price has grown stronger around the $0.0164 price level, leading to very significant indecision around the price level. The distance between the support level, the resistance level, and the simple moving average is growing closer as the trading sessions progress. This convergence between the supply level and the demand level is an indication of an imminent price breakout, which could be bullish. Traders might want to come into the market early to benefit from the rush.
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
On May 9, the bull market tested the $0.02 price level in the second and third 4-hour sessions. After this, the market settled into a range. The fact that the bull tested the key resistance repeatedly might be a sufficient reason to expect a bullish price breakout. Secondly, despite the indecision, we can observe a subtle uptrend in the market. That might be a sign that more traders are becoming bullishly biased. Because of this, the two standard deviation curves of the Bollinger Bands indicator contract. At the peak of this contraction, we anticipate a price breakout.
TAMA/USD Short-Term Outlook: 1-Hour Chart
From this standpoint, we already have an uptrend. However, the uptrend is slow but steady. This illustrates a slightly growing sentiment in the bull market, and the bears are being dragged slowly but surely along to the upside. This may not yet be regarded as the expected price breakout because the volatility is still on the low side. Also, the Bollinger Bands narrow against the price action. The struggle is still on, but the buyers seem to have slightly more control over the market.
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