June 29 (Cointime) - Dogecoin is at a critical point in its price movement, with the potential for a substantial decline if it doesn't muster a decisive bounce at its current level. The persistent downtrend marked by a descending trendline has been undermining buyers' efforts to establish a sustained bullish recovery for nearly two months.

The $0.06 horizontal support area is crucial, and whether the price manages to bounce back above it or succumbs to a breakdown could dictate the future trend for DOGE. However, if the overall market sentiment shifts back towards recovery, there is a possibility of Dogecoin's price experiencing a bullish breakout from the overhead resistance it currently faces.