The post Dogecoin Bollinger Bands Tell A Bullish Story, Here’s The Level To Watch appeared on BitcoinEthereumNews.com.

Dogecoin’s price action with the Bollinger Bands indicator shows it is now at a junction of either a breakout to the upside or another downward move. Technical analysis shows that Dogecoin’s interaction with the Bollinger Bands suggests it could go on a swift upwards move. However, there remains a critical risk factor that the bulls need to keep an eye on. Dogecoin’s Struggle Around The Middle Bollinger Band Dogecoin’s price action with the Bollinger Bands was noted on the TradingView platform by crypto analyst SwallowAcademy. SwallowAcademy’s analysis highlights that since the start of February, Dogecoin has been trading within the Bollinger bands, but not without turbulence. A price crash in early February saw Dogecoin break below the lower Bollinger band on February 3 with a strong wick. However, it has since recovered and is now back trading within the Bollinger bands.  Typically, such a move is followed by a rally toward the middle Bollinger band, which has indeed happened. Instead of continuing into a full-fledged bullish trend, DOGE has faced resistance at the middle band. This shows that there’s either a lingering selling pressure or a lack of strong buying pressure.  DOGE trending inside the bollinger band | Source: SwallowAcademy on Tradingview This behavior is unusual compared to Dogecoin’s price action this cycle, where it would typically see a reversal to the middle band and then a continued move toward the upper Bollinger band. Instead, the cryptocurrency remains stuck around the middle band, struggling to break through convincingly. As noted by the analyst, the key test now is whether the meme coin can break past this resistance, which could cause a rally of at least 15%. The Danger Level To Watch For DOGE Bulls The bullish plan is for Dogecoin to break above the middle Bollinger band and then aim…

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Filed under: News - @ February 22, 2025 7:14 am