Baby Doge Coin Gets Listed On Kucoin, Bulls Fail To Capitalize On The News

Key Takeaways:

• Meme token Baby Doge Coin announced listing on the Kucoin exchange.
• BABYDOGE price formed a bullish technical pattern

NEW DELHI (CoinChapter.com) — Kucoin announced the meme crypto Baby Doge Coin listing on April 19. The token’s developers had earlier hinted at an upcoming BABYDOGE listing. However, with BABYDOGE listed on Kucoin, speculations of a possible Binance listing might be put to rest.

The exchange will support trading of the BABYDOGE/USDT trading pair, with deposits effective immediately on April 19 at 10:00 hrs (UTC). In addition, Kucoin would support the BEP20 and ERC20 networks for the Baby Doge Coin token.

The BABYDOGE/USDT pair would become available for trading on April 19. Kucoin will enable withdrawals for the Baby Doge Coin token on April 20.

Baby Doge Coin Price Forms Bullish Pattern

Meanwhile, BABYDOGE price formed a bullish technical pattern called the Bull Pennant.

The pattern emerges when an asset consolidates between two converging trendlines after a price rally. Ultimately, a breakout in the direction of the large initial movement follows the period of consolidation.

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Volume is important in the pattern. During consolidation, the volume should be low while it must increase during the breakout move. Otherwise, prices would likely pull back into the consolidation pattern.

Per the rules of technical analysis, BABYDOGE price might rise 407% to reach $0.00000001665 once the meme token confirms the pattern.

Despite BABYDOGE getting listed on Kucoin, the token failed to rally on April 19. Listing news usually serves as a trigger for upside movement for assets. Yet, the BABYDOGE token price dropped nearly 8.4% to form a daily low of $0.00000000321on April 19.

A continued downtrend could result in Baby Doge Coin price dropping to test support near $0.000000003111. Moreover, breaching the immediate support level could see BABYDOGE price fall 20% from current levels to reach its 50-day EMA (purple wave) support near $0.000000002572.

Conversely, if buyers enter the market following the Baby Doge Coin listing news, the meme crypto might rise to $0.000000003677. Breaking and consolidating above the immediate resistance level could help BABYDOGE price reach $0.000000004296 before downside corrections pare gains.