TABOO TOKEN (TABOOUSD) Price Forecast: November 16
TABOOUSD has the potential for a bullish run-off as the coin trades above the supply trend levels. The nearest resistance of the crypto is between levels $0.00223 to $0.00224, whereas the most immediate resistance is found around $0.00249. There is a higher probability of a price-breaking resistance zone at the $0.00295 level if the buy traders can double their efforts.
Key Levels:
Resistance Levels: $0.00250, $0.00260, $0.00270
Support Levels: $0.00090, $0.00080, $0.00070
TABOO (USD) Long-term Trend: Bullish (Daily Chart)
TABOOUSD shows a potential for a bullish runoff and also indicates an upward trend with a bullish sentiment in its long-term perspective. The coin is presently facing the upper resistance above the EMA at the recent high.
The sustained bullish pressure during yesterday’s session has made the TABOO TOKEN price remain above the supply trend levels in its recent hike price.
The bulls’ action increases the price up to the $0.00249 resistance level above the moving average even as the daily session opens today. This will prolong the upward rally and fuel the release of more buy investors into the market.
Additionally, the market upward’s trend on the daily stochastic will draw more buyers to the TABOOUSD market for a bullish run-off pattern.
Should this happen, the coin price may rise even further, possibly reaching an upper high level of $0.00300, which would strengthen the bullish run-off in the future in its long-term outlook.
TABOO (USD) Medium-term Trend: Bullish (4H Chart)
In the medium-term chart, the price of TABOOUSD also has a potential for a bullish run-off while making higher highs and higher lows above the supply levels.
The high buying pressure of the long traders at the $0.00224 high level in the previous action also contributed to its potential bullish strength in its recent high.
The strong push by buyers to the $0.00240 resistance trend line above the moving averages as the 4-hour chart opens today shows that the buying activities are rising. Thus, if the long traders could break above the $0.00295 supply mark, the bearish thesis will be invalidated.
Furthermore, the coin is moving higher on the daily stochastic; this means that the
TABOOUSD price has a potential for a bullish run-off, at this point, more buyer participation is required. In light of this, we anticipate that the price will hit the upper resistance level of $0.00300 soon in the medium-term perspective.
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