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Dogecoin is on the rise in anticipation of integration into Twitter payments
Dogecoin Launches Bullish Golden Cross
Cryptocurrencies Are Correcting, But Maintaining Bullish Momentum
Dogecoin (DOGE/USD) sent another bullish signal golden cross. A golden cross occurs when the short-term 50-day moving average approaches and crosses the 200-day moving average . A golden cross is interpreted as an important bullish signal.
DOGE’s golden cross occurred after the memetic cryptocurrency sparked investor interest. Speculation continues to grow around Dogecoin’s acceptance as a payment token for Twitter. IO Global CEO co-founder Charles Hoskinson shared his thoughts on a hotly contested topic. Hoskinson states that Elon Musk can use DOGE for his Twitter payments. Cryptocurrency.
Hoskinson said Binance’s participation in the Twitter acquisition was a move to support cryptocurrency integration. The IOG CEO expects BNB to be the other cryptocurrency that could benefit from the crypto’s use on Musk-owned Twitter.
In the outlook for the daily chart, the 50-day moving average has risen above the 200-day moving average (golden cross). It’s the first time since October 2021 that the 50-day moving average has crossed the 200-day moving average. A golden cross could be a bullish indicator for DOGE.
DOGE has also slightly corrected after breaking out at $0.09 before the cryptocurrency price climbed to $0.11. The MACD indicator turned bullish and shifted above the neutral zone.
The technical outlook and indicators are bullish Dogecoin price. However, the current adjustment may continue in the short term. For buyers, $0.09 is the level to monitor a potential bullish reversal and a potential buy zone for DOGE.
In the bullish scenario, buyers will next target levels around $0.14. Further rise in price will depend on general cryptocurrency sentiment and Dogecoin’s own fundamentals. Other resistances are at $0.15 and $0.17.
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