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Dogecoin (CRYPTO: DOGE) was not the litter choice when AMC Entertainment Holdings Inc (NYSE: AMC) CEO Adam aron took to Twitter on Wednesday to announce that the movie channel will add Ethereum (CRYPTO: ETH), Litecoin (CRYPTO: LTC) and Bitcoin Cash (CRYPTO: BCH) as payment methods when it starts to accept Bitcoin (CRYPTO: BTC) by the end of this year.
Popular Fintwit personality and Dogecoin enthusiast @ greg16676935420 responded on Twitter that he slipped a bag of bowling pins into an AMC theater to protest the company not including dogecoin in the ad. Co-creator Dogecoin Billy Markus responded to Aron’s tweet to wonder why Litecoin was included instead of Dogecoin.
See also: How to buy Dogecoin
The Dogecoin table: Dogecoin fell in sympathy with Bitcoin and a host of other cryptocurrencies when El Salvador adopted Bitcoin as legal tender on September 7. The crypto spent the next 11 days consolidating the flash crash.
In its consolidation, Dogecoin has settled into a pennant pattern on the daily chart, making a series of higher ups and downs as the price range tightens. Dogecoin will reach the top of the pennant on Sunday and if the pattern is recognized, both bulls and bears should watch the volume increase for confirmation.
Dogecoin’s Moving Average Convergence Divergence (MACD) curls slightly upward towards the upper signal line. When MACD crosses above the signal line, it is a buy signal for technical traders as it indicates that the price movement is strengthening.
The crypto is trading slightly below the eight-day exponential moving average (EMA) and below the 21-day EMA, with the eight-day EMA trending below 21 days, both of which are bearish indicators. . Dogecoin is also trading slightly below the 200-day Simple Moving Average (SMA), indicating that overall sentiment is bearish.
On Saturday, Dogecoin attempted to break out during the 200-day SMA, but failed and lost ground. However, if the crypto bullishly separates from the pennant, it can easily regain both the eight-day EMA and the 200-day SMA.
- Bulls want to see a big bullish volume come in and break Dogecoin off the pennant. Above the moving averages, Dogecoin has historical price resistance at 27 cents and psychological resistance at 30 cents.
- The bears want to see a large bearish volume lower the Dogecoin against the pennant and the crypto to lose support at the 23 cent level. Below this level, Dogecoin has support at 16 cents.
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