The Tamadoge price bounced at $0.022 to print a bullish hammer candlestick pattern, often a signal of a price reversal in a downtrend.
New token Tamadoge (TAMA) has been trading for 23 days on OKX exchange and Uniswap, alongside other crypto exchanges which listed TAMA – Bitmart, BKEX, Coinsbit, LBank, MEXC and XT.com.
Currently the TAMA price is attempting to flip the $0.03 level to support – its listing price on September 27th.
Tamadoge Price Action
The October 19th daily candle closes in approximately fifteen minutes and the TAMA price is trading in the $0.028 – $0.029 range.
A hammer candle will be formed if TAMA closes in that area – characterized by:
- A long lower wick (indicating sellers pushed price lower, but buyers overcame that selling pressure)
- Little or no upper wick (most price action took place towards the daily high)
- The color of the candle is not vital, however a green candle (daily close higher than the daily open) indicates buyers were in control during the session
While a hammer is not always the bottom of a downtrend, it is so named as the market appears to be in the process of ‘hammering out a bottom’.
Further confirmation of a change in market structure would be another green daily close over $0.03. Although technical analysis is difficult to apply to a new cryptocurrency asset with little price history.
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Tamadoge is currently outperforming Bitcoin, up 2% today versus Bitcoin being down 1%.
Some of the latest and upcoming news events for TAMA are:
- Tamadoge Rare NFTs have now been listed on OpenSea, its second NFT drop following the Tamadoge Ultra Rare NFTs
- Tamadoge will host an AMA with BSCDaily on October 21st at 13:00 UTC
- TAMA will be listed on Bitget on Oct 20th at 12:00 UTC
- TAMA will be listed on CoinW, also on Oct 20th at 12:00 UTC
- Tamadoge has been trending on Twitter including a mention by @WhaleCoinTalk
Tamadoge Price Prediction
Independent price tracking site CoinCodex predicts Tamadoge will rally to test the $0.04 level over the next week, despite the bearish sentiment.
Update – the Tamadoge price closed the daily candle just over $0.029, confirming the bullish hammer candle. Bitcoin also closed over $19,000.
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