Airdrop projects often see initial volatility as recipients sell tokens for quick gains. To determine long-term value, assess the project's utility, the team's credibility, and its ability to build a sustainable ecosystem.
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Bollinger Bands consist of a middle band (a moving average) and two outer bands that represent price volatility. When Bitcoin’s price hits the lower band, it might signal that the asset is oversold, potentially a buy opportunity. Conversely, if the price reaches the upper band, it might be overbought, suggesting a sell signal. However, it’s important to consider the overall trend and confirm with other indicators like RSI or MACD to avoid false signals. Bollinger Bands work best in conjunction with other technical tools to refine entry and exit points.
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Social media discussions, especially on platforms like Twitter and Reddit, can significantly affect cryptocurrency prices in the short term. Positive news, memes, or endorsements from influencers can drive hype and cause rapid price increases as retail investors rush to buy. Conversely, negative sentiment, rumors, or regulatory fears can lead to sharp sell-offs. Since crypto markets are heavily influenced by retail investors, social media has become a crucial tool for gauging market sentiment and predicting potential price movements.
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