In this technical analysis, we will discuss the potential price movement of TOMA based on the displayed chart data. The following is a complete review of price patterns, support and resistance levels, and potential further movements.
TOMA Price Overview
TOMA price is currently at $0.00087, with a daily price movement of 4.23%. Trading volume shows an activity of 239.79 million TOMA, indicating that market interest in the coin remains active.
Fibonacci Retracement Analysis
On the chart, the Fibonacci Retracement lines show important levels for monitoring price movements:
Level 0.236 ($0.00071): Is the closest support if the price falls.
Level 0.382 ($0.00089): Crucial area currently being tested as temporary resistance.
Level 0.618 ($0.00117): Key resistance that could be the next upside target.
Level 0.786 ($0.00138): Psychological resistance that determines whether the price is able to continue the bullish trend.
Patterns and Trends
The chart shows a rising wedge formation, which indicates a potential bullish move after a small correction. The bullish momentum is also supported by:
SMA Volume (9): High trading volume reflects strong buying interest.
EMA and MACD: Bullish signals are starting to appear with potential crossovers that could trigger significant upside.
Order Book
From the order book data, there is major purchasing activity at several levels:
Significant purchases at prices of $0.00090 to $0.00100, with amounts ranging from 40,000 to 900,000 TOMA.
Strong support at the $0.00080 to $0.00085 level, reflects investor confidence in the upward price movement.
Meanwhile, selling activity was monitored at the level of $0.00110 to $0.00118, which is the main resistance area.
Price Predictions and Targets
Based on technical data:
Short-term target: $0.00117 (0.618 Fibonacci level).
Medium-term target: $0.00138 (0.786 Fibonacci level).
Optimistic target: $0.0154, according to the potential long-term price projection listed on the chart.
Conclusion
TOMA shows strong bullish potential with the support of trading volume and supporting technical analysis. If the price is able to break the resistance level at $0.00117, we can see a significant increase towards the next target.
Vital Records:
Always pay attention to market volatility and risk management when trading. The potential for big gains always comes with the risk of sudden corrections.
TOMA TO THE MOON! 🚀
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