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The Tamadoge market has continued its steady climb towards the $0.001600 mark. The token’s price action has now touched a significant technical level, suggesting the potential for further price increases. Let’s delve deeper into the market analysis.
Key TAMA Statistics on December 5, 2024:
TAMA Price: $0.001591
Tamadoge Market Capitalization: 2.16M
TAMA Circulating Supply: 1.39B
Tamadoge Total Supply: 1.42B
Tamadoge CoinMarketCap Rank: 1757
Key Price Levels:
Resistance: $0.001600, $0.001800, $0.002000
Support: $0.001500, $0.001400, $0.001200
TAMA/USDT Poised for Further Price Increases
A 4-hour price chart of the Tamadoge market reveals that the price action has been confined between the 200-day and 50-day Moving Averages (MA). The most recent price candle has closed just above the 20-day MA, indicating potential upward momentum.
Notably, the 100-day and 200-day MAs are positioned below the current price. The Stochastic Relative Strength Index (RSI) shows a downward trend with a slight upward inflection in the lead line. However, the RSI remains above the 50 level, suggesting potential bullish pressure.
Bullish Sentiment Prevails in the Tamadoge Market
Zooming into the hourly TAMA/USDT chart, we can see a clear shift in momentum towards the upside. The latest price candle is bullish and has pushed the token’s price above three out of four Moving Average ribbons. Additionally, the Stochastic RSI has formed a bullish crossover in the overbought region, further reinforcing the bullish sentiment.
Technically, this suggests that the market could continue its upward trajectory, potentially breaking through the $0.001600 resistance level and aiming for the $0.001800 level. Therefore, traders should focus on crypto signals aligned with this price resistance level to capitalize on the potential upside. In addition, you can still climb higher on the weekly leaderboards and stack up on $TAMA rewards as you battle your way to the top!
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Battle your way to the top of the weekly leaderboards and load up on $TAMA rewards!
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