fxstreet.com 02 Feb, 2021 08:00 am

DOGE primed to rebound, but upside potential is capped by massive supply wall

DOGE primed to rebound, but upside potential is capped by massive supply wall
Dogecoin plummeted from the recent massive surge to $0.88. The freefall was uncontrollable until the price hit support at $0.0218. As covered on Monda

DOGE must break the crucial barrier at $0.Dogecoin must break this crucial resistance to make a substantial recovery The 4-hour chart shows DOGE dancing above all the applied moving averages, including the 200 Simple Moving Average, the 100 SMA, and 50 SMA.Billy Markus, the Dogecoin co-founder, complains of harassment from the token’s community.Dogecoin co-founder complains of harassment As Dogecoin rallied last week, its co-founder Billy Markus claimed that he was being harassed again.

DOGE/USD 1-hour chart Looking at the other side of the fence According to the IOMAP model by IntoTheBlock, breaking above the short term hurdle at $0.Dogecoin IOMAP model While rising above this zone will be bullish for Dogecoin, failure to slice through it may see the price break down further.

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