Tamadoge (TAMAUSD) Is on the Rise
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The TAMAUSD market has found a strong support level at $0.03158, and it aims at breaking through the $0.035 price level. The bull market failed at this level a few days ago after a very strong bullish rush hit the $0.035 brick wall. The same attempt to capture the key resistance price was repeated in today’s trading session, but the support level, which is $0.03158, may be setting the stage for the recapturing of this same price level.
Key Levels
- Resistance: $0.035, $0.040, and $0.045
- Support: $0.025, $0.020, and $0.015
Tamadoge (TAMAUSD) Price Analysis: The Indicators’ Point of View
This latest support level is much higher than the previous support level. While the resistance level remains the same, the support level has shifted closer to the resistance level. This narrows the price channel and puts more pressure on the supply level. This market behavior, as represented on the chart, forms an ascending wedge triangle pattern. Usually when this forms, we expect a bullish price breakout as it indicates that more traders are becoming eager to buy, though the $0.035 price level remains the market’s psychological level. Also, all the indicators are still bullishly biased, so the bulls have a chance.
TAMA/USD Short-Term Outlook: (1-Hour Chart)
According to the 1-hour chart outlook, the market moves slightly below the 20-day moving average as it recovers from the key support level and reaches the equilibrium price. In the next 1-hour session, the price may eventually beat the 20-day moving average. The Relative Strength Index (RSI) still preserves its bullish sentiment despite the selling pressure, as it appears on the one-hour chart outlook. The new higher demand level increases the probability of the bulls breaking the limitation.
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