Despite a recent drop in value, investors are optimistic about the future of Dogecoin. However, for meaningful gains to occur, Dogecoin must break through a key price threshold. The In/Out of Money Around Price (IOMAP) analysis shows that significant support exists around $0.11, but a strong supply wall is currently limiting Dogecoin's ability to trade higher. The Money Flow Index (MFI) indicates that sellers are currently outpacing buyers, making a recovery unlikely in the near future. The Moving Average Convergence Divergence (MACD) suggests that Dogecoin's price might drop below $0.10 and decline to $0.086 unless buying pressure increases. Alternatively, if buying pressure increases, Dogecoin's price could bounce off the $0.10 support and climb to $0.14.
- Content Editor ( beincrypto.com )
- 2024-10-10
Dogecoin (DOGE) Price Must Climb Above This Level to Avoid Correction