Tamadoge (TAMA/USD) Bulls Strive to Regain Dominance of the $0.0090 Price Level
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The TAMA/USD market consistently sustains a stable pricing position near the $0.90 threshold. On December 12, bullish traders endeavored to attain the $0.0095 price level. The market’s fourth four-hour session commenced at approximately the $0.0090 price threshold, witnessing a surge towards $0.0095. However, by the session’s conclusion, the initially bullish momentum for the day had receded, retracting the market back to the $0.009 level, where it remained in a sideways range.
Key Levels
- Resistance: $0.013, $0.014, and $0.015.
- Support: $0.0075, $0.0073, and $0.007.
TAMA/USD Price Analysis: The Indicators’ Point of View
Around the pivotal $0.009 price level, a potential support zone is anticipated to serve as a pivot for the continuation of the bullish trend. Notably, this region acted as a primary support level in early December, laying the foundation for the bullish surge that peaked above the $0.012 price level. The consolidation of prices around the $0.009 mark since December 11 has led to a reduction in the TAMA/USD market volatility. Presently, the Bollinger Bands are converging, creating a narrow price channel indicative of horizontal price action. Such a volatility squeeze often precedes a significant price movement. With optimism, the forthcoming price movement is anticipated to be on the upside.
Tamadoge Short-Term Outlook: 1-Hour Chart
Examining the 1-hour chart of the TAMA/USD market, the price maintains equilibrium within a narrow channel spanning from $0.0086 to $0.0090. The market is notably situated around the $0.009 mark. Both the ongoing 1-hour session and the preceding candles on the chart have exhibited a flat trajectory, underscoring the prevalent indecision in the market.
Nevertheless, there is an expectation that a bullish trend may ensue following this phase of price consolidation, considering that the current level corresponds to the starting point of the previous bullish surge.
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