Tamadoge (TAMAUSD) Is About to See a Bullish Price Explosion
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After Tamadoge‘s bullish price got rejected at the $0.02 price level on May 9, the market took $0.0164 as the equilibrium price. In the trading sessions that follow the price rejection, the market continues to oscillate around this price level, and as bulls and bears became increasingly evenly matched, the distance between support and resistance grew closer to each other and in convergence with the equilibrium price. This market action is due to the intense struggle at the 0.0164 price level.
TAMA/USD Price Statistics
- Resistance: $0.035, $0.040, and $0.045
- Support: $0.015, $0.014, and $0.013
(TAMAUSD) Price Analysis: The Indicators’ Point of View
As the faceoff between buyers and sellers nears its peak, the Bollinger Bands contract. This is an indication that the market is about to move in a decisive direction. The next market move could be in favor of the bulls because the market has a support level at the $0.0158 price level. This support level is closer to the psychological price level, which is $0.0164. Therefore, the bulls might have a bit of an advantage over the bears, even though bearish resistance is also near the $0.0164 price level.
Tamadoge Short-Term Outlook: 1-Hour Chart
The day’s trading session opened with a very significant indecision candlestick. It was a plus sign doji candlestick. It signifies indecision. This candlestick was what suspended the repeated attempts by the bulls to break the resistance level at the $0.0166 price level. The stochastic RSI, being a very fast indicator, predicted that the next direction of the market would be to the downside. But buyers are resilient, and with a quick demand level at 0.0162, they bounce back for more action.
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