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Price action in the Tamadoge daily market has recently seen some upside push, keeping the market afloat above the broken resistance at the $0.001800 mark. The achieved upside progress suggests that price movement may extend toward higher levels.
Key TAMA Statistics on August 8, 2024:
TAMA’s Price: $0.001878
Tamadoge Market Capitalization: $2,393,276
TAMA’s Circulating Supply: 1,393,353,219
TAMA’s Total Supply: 1,417,967,396
Tamadoge’s Rank on CoinMarketCap: 1432
Key Price Levels:
Resistance: $0.002000, $0.002500, and $0.003000
Support: $0.001750, $0.001500, and $0.001250
Bulls Are Resisting the Bears in the TAMA/USDT Market
Price activity in the Tamadoge market on the 4-hour price chart saw a sharp upside surge. As a result, a slight downward correction occurred but seems to have been mitigated by upward forces. This is evident as the last price candle here appears as an inverted hammer.
Technically, when this type of price candle occurs following a downward correction, it hints at a possible bullish reversal. Also, price action continues to hover around the 50-day Exponential Moving Average (EMA) curve. At the same time, the Stochastic Relative Strength Index (SRSI) lines can still be seen rising into the overbought region, suggesting that the upside correction may resume.
Tamadoge’s Upside Hopes Remain Bright
In the 1-hour market time frame for TAMA/USDT, price action has surpassed important technical landmarks. Here, we see that the three price candles below the 200-day EMA curve are standing at some distance above the converging 20- and 100-day EMA lines. The 20- and 100-day EMA lines are on the verge of delivering a bullish crossover below the price action, which may provide some thrust to the market.
The SRSI lines retain a downward trajectory, but they are quite close to each other, increasing the chances of a bullish crossover above the 50 mark of the indicator. At this point, it seems traders can still use crypto signals targeting price levels around the $0.002100 mark. Additionally, Tamadoge players can jump into any Tamaverse game now for a chance to climb higher on the leaderboard and grab their share of $TAMA rewards.
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