Dogecoin chart analysis

This morning, we saw the formation of a new weekly low at the 0.05738 level. We stayed down there briefly, and the price retreated to the 0.05820 level. We are currently consolidating around that level and need a break above to continue to the next resistance at the 0.05850 level.

In that zone, we could expect more resistance that could send the price of Dogecoin down again. Potential lower targets are 0.05750 and 0.05700 levels. We need a price jump above the 0.05850 level for a bullish option. Then, we need to stay above and form a new bottom at that level. With the next impulse, we would have the opportunity to continue on the bullish side. Potential higher targets are 0.05900 and 0.05950 levels. We will have additional pressure and resistance in the EMA50 moving average in the zone around the 0.05900 level.