Dogecoin Approaching a Critical Multi-Year Support Zone Dogecoin / TetherUSBINANCE:DOGEUSDTDukesMarketAnalysisPrimary trend remains bearish Dogecoin continues to produce a long-term series of lower highs and lower lows, with price giving back much of the gains from its historic rally. The broader trend remains firmly in favour of the bears. Moving average remains bearish Price continues to trade well below the 10-month EMA, reinforcing the longer-term bearish outlook. Until DOGE can reclaim this average, rallies are likely to face selling pressure. Major support approaching The $0.050-$0.062 support zone is now the key area to watch, having repeatedly attracted buyers over the past few years. A successful defence could provide the foundations for a longer-term bottoming process, while a break below would expose the historic support around $0.0288. Resistance now overhead The former $0.080-$0.081 support zone has now turned into initial resistance following the recent breakdown. Above that, the next significant hurdle sits around $0.1186. Momentum remains weak RSI continues to trade below the 50 level, while StochRSI remains in oversold territory. Although momentum remains bearish, oversold conditions increase the possibility of a short-term relief rally. In Summary Dogecoin remains in a clear long-term downtrend, with price trading below the 10-month EMA and former support at $0.080 now acting as resistance. The key focus is the $0.050-$0.062 support zone, which has held on multiple occasions over recent years. If buyers fail to defend this area, the next major downside target sits near the historic support around $0.0288.