Dogecoin (DOGEUSD) edged slightly higher in recent intraday trading, supported by positive signals from momentum indicators after they reached extremely oversold territory. The cryptocurrency is attempting to recover part of its previous losses, but the primary short-term bearish trend remains firmly in control, with price action continuing to move alongside a descending trendline that supports the downtrend. Additional negative pressure persists as the price continues to trade below its 50-period Simple Moving Average (SMA), limiting the prospects for a sustained recovery in the near term.

Therefore, our outlook remains bearish for the cryptocurrency's upcoming intraday trading sessions, as long as resistance at $0.0767 remains intact. Under this scenario, the next downside target is seen at the $0.0678 support level.

Today's price forecast: Bearish.