DOGE Price Projects A Downtrend For The Future

The weekly technical chart of DOGE showcases a bearish momentum. On coming to the daily chart, Dogecoin price is not showing any sign of positive recovery.DOGE price is currently at $0.05395 with a loss of 0.38% in the intraday session.In contrast DOGE/BTC pair is also seeing a bearish momentum on the daily time frame.DOGE price is trading below 50 and above 100 Moving Average. The 50MA price is at $0.058, making it temporary resistance for the coin. The coin's resistance on the upside will be at $0.07, and on the downside, it will see a bounce back from $0.04.It has formed an accumulation zone in the daily frame.If the price breaks 10% above the area then a strong bullish moment can be seen.Dogecoin can see a downtrend below the $0.04 in upcoming days