June 20 (Cointime) - Dogecoin's price experienced a significant drop on June 5, breaking a crucial long-term support level and facing diagonal and horizontal resistance. Technical analysis shows that the DOGE price broke out from a 360-day ascending support line, indicating the possibility of a new long-term downward movement.

Despite a bounce at the $0.060 horizontal support area, the RSI provides a bearish reading, suggesting a continuing downward trend. Elon Musk's insider trading lawsuit and a litigator's withdrawal from the case may also have contributed to the bearish DOGE price prediction.