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Probably the cryptocurrency of the most popular memes in the world, DOGECOIN (DOGE)Faced with an accident that most will not be able to manage. We are talking about the performance of DOGE prices, when Bollinger strips report a possibility of a reduction of 80% for the memes piece.
The Bollinger bands, developed by John Bollinger, consist of three curves – the median and the two differences above and below. Together, they form a movement of scope in which traders can identify the trend and extremes for the price of the assets. The median itself is represented by a 20-day mobile average. When the price reaches a higher strip, it can point out that the asset is overflowed and when it reaches the lower strip, the price is in territory occurring.
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The thing with DOGE is that on the weekly deadline, the price fell below the median, with the indicator at $ 0.28735 and the memes piece negotiating at $ 0.265. Such conditions make Dogecoin more vulnerable to the lower band, which is currently extended around the $ 0.057 area.
If the price of the meme piece closes the week below the median, this may indicate a lack of purchasing power and bring the band from the lower band closer to test the buyers.
On the other hand
The possibility of Mastiff Reaching the $ 0.06 area is not in the short term and everything can change in a few weeks. However, as things are now, the likelihood of such development is higher than the probability of rising higher levels of recents.
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Although it is not put in stone like everything else on the crypto market, Bollinger bands indicate a weakness for Dogecoin, and therefore, another decrease in the medium term is the main scenario at the moment, With an accident of 80% to $ 0.057 serving as an ultimate and most sinister scenario result of the cryptocurrency of the same beloved.