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CryptocurrencyPrice Analysis

Bulls in Control of the TABOO Market as Price Surge by 4.22%

TABOO TOKEN (TABOO) bullishness has dominated in the previous 24 hours, with the bulls able to move the price between an intra-day high and low of $0.001568 and $0.00174. As of press time, the bulls had successfully shot the price up by 5.59% to $0.001763 from the starting price of $0.001568 in the previous 24 hours, keeping a solid bullish presence in the market.

As a consequence, market capitalization increased by 5.71% to $17,291,974, representing a significant gain in TABOO purchasing power, but 24-hour trading volume decreased by 4.87% to $1,054,080. Nevertheless, despite the drop in 24-hour trading volume, TABOO’s market capitalization climbed dramatically, suggesting that the present optimistic attitude may continue shortly.

TABOO/USDT 24-hour price chart (source: CoinMarketCap)

Since the Moving Average Convergence Divergence (MACD) line for the 4-hour time frame is currently above its signal line, this may indicate that the current bullish movement in the TABOO market will likely go on into the not-too-distant future. Furthermore, the fact that the trajectory histogram is currently located inside the positive region makes it quite evident that TABOO bulls drive price activity.

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The TABBO prices are now in a bullish trend, as shown by the Relative Strength Index (RSI), which predicts that the bull run may continue in the hours to come. However, the RSI is now hanging around the “50” level, indicating that the TABOO market is not being dominated by either bulls or bears since there is equal pressure from both camps on the market.

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The market is now in a strong uptrend, as shown by the Average Directional Index (ADX), which is going north with a value of 26.09; this suggests that investors will be ready to purchase TABOO tokens as prices increase even more. It is predicted that this will positively influence the TABOO market due to the increased participation of investors in the growing market, which is expected to drive prices even higher.

TABOO/USD 4-hour price chart (source: TradingView)

The Bollinger Bands are becoming wider, suggesting that the present trend is about to end and that there will be an increase in the market’s volatility. The top and bottom bands are close at 0.001675 and 0.001415. Both support and resistance for the market may be found at these levels. In the short term, the market will keep moving closer and closer to the upper band, which will hold a positive trend.

The stochastic RSI line crossed the lower level at a reading of 26.17, indicating to investors that the stock had been oversold and that it might be a good time to buy the TABOO token. This was shown by the line moving above the lower level. This suggests that bears could take over the market and force bulls to play a less critical role in setting the price of TABOO.

It appears that the bullish momentum in the TABOO price may continue in the coming hours as the Williams Percentage Range (William%R) indicator shows that TABOO is moving closer to the overbought (0) region. Currently, William’s %R is at -40.54, which is very close to the zero line, suggesting that this bullish movement may persist over the next few hours.

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TABOO/USD 1-hour price chart (source: Trading View)

In conclusion, the price analysis of TABOO indicates that the market has been trading in a bullish sentiment over the course of the previous twenty-four hours. This is due to the fact that the price of TABOO has been climbing at a consistent rate throughout this time period, which suggests that the market might see new price highs in the near future.


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Curtis Dye

Curtis is a cryptocurrency news and analytics author with a focus on DeFi, BLockchain, CeFi, NFTs etc. He has publication skills such as SEO optimization, Wordpress, Surfer tools and aids his viewers with insights on the volatile crypto industry.

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