Tagger [TAG] surged 14% to reach a two-month high of $0.00149 after recovering from a recent decline that saw the token fall to $0.00102. According to reports from AMBCrypto, the altcoin had lost the $0.0011 support level four days ago before buyers returned to push prices higher. TAG later retraced to $0.00134 but remained up 13.98% on the daily chart, demonstrating strong recovery momentum.
The price recovery was primarily driven by whale accumulation activity following the recent decline. As reported by AMBCrypto, four whales accumulated more than 15 billion TAG tokens starting from the 29th of July, marking a shift in whale sentiment from profit-booking near $0.00144. Additionally, over $7.2 million in TAG left exchanges between the 27th and 31st of July, reducing the exchange supply by 77% and making more tokens unavailable for immediate trading.
Market participation showed significant improvement with trading volume surging 141% to $11.75 million, reflecting stronger investor interest. According to AMBCrypto, derivatives volume jumped 370% to $39 million while open interest increased 14.3% to $23 million, indicating that speculative traders were opening new positions during the rally. The long/short ratio climbed above 1 on Binance and OKX, showing a slight preference for long positions.
TAG's RSI formed a bullish crossover and climbed to 63 before easing to 62, reflecting strong upside momentum without entering overbought territory. As reported by AMBCrypto, the Relative Vigor Index reversed from 0.05 to 0.07, supporting the improving momentum. Under a bullish scenario, TAG could reclaim $0.0014 before targeting the $0.00158 resistance level. However, fading speculation and profit-taking could push TAG below $0.0013, exposing the $0.0011 support level again.
