Tamadoge (TAMA) Price Outlook for January 12: TAMAUSDT Finds a Higher Support Level, Set to Relaunch Upside Move

The Tamadoge price action has moved on from a support around the $0.007200 mark to now having obtained a new one around the $0.007300 mark. The newly obtained support seems to have been found above an important part of a technical indicator, which may have bullish implications for the market as trading activities continue.

Key Tamadoge Statistics on January 12, 2024:
TAMA Price: $0.007360
Tamadoge Market Capitalization: $10,096,086
TAMA’s Circulating Supply: 1,393,353,219
Tamadoge’s Total Supply: 2,000,000,000
Tamadoge’s Rank on CoinMarketCap: 973

Key Price Levels:
Resistance: $0.007360, $0.007500, and $0.007650
Support: $0.007300, $0.007200, and $0.007100

TAMAUSDT Are Regrouping at the Middle Limit of the Bollinger Bands

The Tamadoge market in a 4-hour time frame has portrayed that buyers are regrouping at a higher level of support. Also, the part of the indicator at which they are regrouping seems to suggest that a more significant upside movement may be seen in this market. The ongoing session has signaled that price action will likely bounce upwards off the middle band of the Bollinger Bands indicator.

The Moving Average Convergence Divergence indicator (MACD) lines are still moving closer to the equilibrium level. Despite the short length of the indicator bars, they can still be seen above the equilibrium level. This suggests that buyers may gain more buying confidence from this point on.

Tamadoge Continues to Hold on to Upside Focus

In the TAMAUSDT 1-hour market time frame, the last price candle has bounced off the lowest limit of the Bollinger Bands. Also, the Bollinger Bands have contracted significantly. By implication, this suggests that price action may experience an explosive move in one direction. As it stands, prices may move in the upside direction since price action has already bounced off support.

Furthermore, the MACD lines are managing to stay above the equilibrium level at this point. Although the appearance of the MACD lines hasn’t landed significant bullish convictions at this point, the fact that price action remains above equilibrium still holds some hope for the token. Therefore, traders can still hope that price action may soon cross above the $0.007600 threshold. Also, you can indulge in solitary play or take on challengers for a chance to win 💰 Tamadoge Arena puts the decision in your hands.

 

https://twitter.com/Tamadogecoin/status/1745759136787165635

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