Tamadoge (TAMAUSD) in Pursuit of the $0.015 Price Level
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Currently, the TAMAUSD market is in hot pursuit of the $0.015 resistance price level after it bounced off the key support level of $0.0140. This $0.0140 price level is near the market low of May 8. This same price level formed the basis for the strong bullish move that peaked at the $0.0196 price level on May 9. As the market leverages this same support level, the price is most likely to trend upward from here.
Key Levels
- Resistance: $0.017, $0.018, and $0.019
- Support: $0.014, $0.013, and $0.012.
TAMAUSD Price Analysis: The Indicators’ Point of View
According to the Fibonacci retracement level, the market is in a possible trend-reversal zone. The TAMAUSD market may have concluded a full cycle and is ready for another upward action as the price is near the 100% Fib Retracement level, which is $0.0135. The Moving Average Convergence and Divergence (MACD) also supports a bullish price recovery as its negative histograms turn pale as a pointer to bullish activities. However, the bulls will have to deal with the barrier of the $0.0144 resistance level before taking on the $0.015 price level.
TAMA/USD Short-Term Outlook: 1-Hour Chart
At the $0.0144 resistance level, we notice the struggle and the faceoff between buyers and sellers. It looks like a significant tussle, and because of this, the Bolinger Bands indicator is contracting. The indicator points to a volatility squeeze, which should precede the continuation of the bullish trend.
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