Tamadoge (TAMA/USD) to Overcomes Resistance, Setting Sights on $0.009
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In late September, the TAMA/USD bull market reached its zenith at $0.0096, subsequently yielding a bearish trend that pushed prices below the $0.009 threshold. Nevertheless, bullish sentiment was partially retained as the market staged a recovery, rebounding from $0.0081. Since that point, the market has been exhibiting gradual upward momentum, approaching the $0.009 price level.
Key Levels
- Resistance: $0.013, $0.014, and $0.015.
- Support: $0.00800, $0.0075, and $0.0073.
TAMA/USD Price Analysis: The Indicators’ Point of View
At present, the Bollinger Bands indicate an ascending TAM/AUSD price channel; however, they are contracting, signifying a decrease in market volatility. This reduction in volatility has contributed to the deceleration of the ongoing bull market. The narrowing bands suggest a potential consolidation around the current market level, potentially fortifying it as a support level. This bolstered support could potentially facilitate further upward momentum in the market.
Tamadoge Short-Term Outlook: 1-Hour Chart
On the 1-hour chart, an extended consolidation pattern has prevailed near the $0.0086 price point for an extended period, potentially reinforcing it as a support level. A minor breakout has occurred, originating just below $0.0086 and propelling the price to $0.0088, where it currently encounters robust resistance. Bulls are persistently striving to overcome this bearish resistance, aiming for levels beyond $0.009.
Nonetheless, the diminishing volatility in TAMA/USD suggests the possibility of consolidation around the $0.009 price range. However, if volatility surges, it could propel the asset above $0.009 and potentially establish a support level at a higher point within that range.
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