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Price action in the TAMA/USDT market had recently visited the $0.012100 region, which seems to have awakened the bulls. Consequently, a steep upside retracement occurred, and price action quickly reclaimed support above the $0.013100 price level. Furthermore, price behavior suggests that more upside retracement may still be seen in this market.
Tamadoge Data: June 17, 2023
Tamadoge Value: $0.01313
TAMA Market Cap: 18M
Tamadoge Flowing Supply: 1,025,380,201
TAMA Total Supply: 1,418,004,176
Tamadoge Ranking on CoinMarketCap: 592
Major Price Levels:
Resistance: $0.01313, $0.01370, and $0.01420
Support: $0.01300, $0.01280, and $0.01250
TAMA/USDT Buyers Maintain Dominance
Due to buyers’ dominance in the TAMA/USDT market, price action appears set for more upside retracement. In the 4-hour market, price action has crossed above the 78.60 mark of the Fibonacci Retracement tool. Although the last price candle here is a red one, it can be seen that the acquired price resistance level remains unbroken. Also, the 9- and 21-day Moving Average (MA) curves can be seen converging for a bullish crossover below price movement. At the same time, the Moving Average Convergence Divergence (MACD) indicator keeps showing that the upside momentum is up. This can be perceived as its lines keep rising towards the 0.00 mark of the indicator.
TAMA/USD Focuses on More Upside Retracements
In the 1-hour Tamadoge market, one can see that price action remains above the 9- and 21-day Moving Average curves. The last price candlestick here is a red one, which shows that downward forces are trying to cause some upset here. Yet two positive signs can be noticed here. The mentioned price candlestick has a significantly small body, and it remains the closest (9-day) and the 21-day MA curves. Additionally, the RSI curves remain above the equilibrium level. This implies that price movement can still be caught up by a tailwind. Therefore, traders can brace for more retracement toward the $0.01350 mark. So should keep investing in Tamadoge don’t just bury your bones in the yard.
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— TAMADOGE (@Tamadogecoin) June 16, 2023
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