Dogecoin’s Bollinger groups tell a bullish story, here is the level to look at

The action of Dogecoin prices with the Bollinger band indicator shows that it is now a junction of an upward escape or another downward movement. Technical analysis shows that Dogecoin’s interaction with Bollinger strips suggests that it could move quickly upwards. However, there remains a critical risk factor whose bulls must monitor.

Dogecoin’s struggle around the Bollinger group in the middle

The action of Dogecoin prices with Bollinger groups was noted on the TradingView platform by crypto analyst Swallowacademy. The analysis of Swallowacademy stresses that since the beginning of February, Dogecoin has been negotiated in the Bollinger bands, but not without turbulence. A price accident in early February saw the breakdown of Dogecoin below the lower Bollinger strip on February 3 with a strong wick. However, he has since recovered and is now back in Bollinger’s bands.

As a rule, such a decision is followed by a rally to the Bollinger group in the middle, which has actually occurred. Instead of continuing in a full -fledged upward trend, DOGE faced resistance to the intermediary. This shows that there is either persistent sales pressure, or a lack of high purchase pressure.

This behavior is unusual compared to the action of the dececoin prices this cycle, where it would generally see a reversal of the intermediary strip, then a continuous movement towards the upper band of Bollinger. Instead, cryptocurrency remains stuck around the middle band, fighting to unravelly unravel. As the analyst noted, the key test is now whether the same part can break before this resistance, which could cause a gathering of at least 15%.

The level of danger to monitor for the Doges bulls

The bullish plan is that Dogecoin breaks above the Bollinger medium strip, then targets the upper strip. If Dogecoin manages to maintain support and push beyond the resistance of the Bollinger group in the middle, the upward perspective remains intact. The rupture of this level would probably lead to a yield greater than $ 0.30. From there, there could be a stronger evolution towards the price level of $ 0.40, which would then confirm a continuation of the greatest upward trend. However, there is a critical risk factor whose bulls should keep an eye.

There is a possibility of a deeper retest before a major break that cannot be ignored. The analyst noted that after the explosive rupture of Dogecoin in November 2024, there was no appropriate retain of a key resistance zone in this rally. Just as the nature of cryptocurrencies, such gaps tend to be revised, which means that Doge can refuse to retest the un-filled control block.

If this scenario takes place, Dogecoin could fall again at $ 0.20. A new test of this area could then lay the foundations for a significant escape to the planned objective of $ 0.4.

At the time of writing this document, DOGE is negotiated at $ 0.2534.