A well-known analyst has made predictions about a potential downturn in the prices of Shiba Inu, Dogecoin, Cardano, and Injective following their recent gains during the crypto market’s recovery. These cryptocurrencies had experienced a rally, but the analyst believes that a correction might be on the horizon.
The market’s recent upward movement could be followed by a period of decline for these assets, according to the analyst’s insights.
Cardano (ADA), Shiba Inu (SHIB), Dogecoin (DOGE), and Injective (INJ) all saw impressive gains of over 10% during the recent crypto market recovery. However, a well-known analyst is now anticipating a correction in the prices of these cryptocurrencies. The reason behind this prediction is an indicator in the daily chart that has triggered a sell signal. This suggests that after their recent surges, ADA, SHIB, DOGE, and INJ might experience a price decline or correction.
Crypto Analyst Predicts Correction for ADA, SHIB, DOGE, and INJ
Renowned crypto analyst Ali Martinez has noted a sell signal from the TD Sequential indicator for Cardano (ADA), Shiba Inu (SHIB), Dogecoin (DOGE), and Injective (INJ). According to Martinez, these cryptocurrencies could experience a correction of at least 10% before resuming their upward momentum.
TD Sequential for Shiba Inu, Dogecoin, Cardano And Injective. Source: Ali Martinez
Shiba Inu (SHIB) and Dogecoin (DOGE) Experience Minor Declines
SHIB recorded a 2% decline in the last 24 hours, trading at $0.0000079. Its trading volume has also dropped by 20%, suggesting reduced trader interest.
DOGE saw a 1% drop in the past 24 hours but experienced a slight recovery due to short sellers. It’s currently trading between $0.068 and $0.070.
Cardano (ADA) Maintains Optimism
ADA’s price reached $0.29, with a 24-hour low and high of $0.292 and $0.298, respectively. Despite recent fluctuations, the Cardano community remains hopeful about surpassing the next resistance levels.
Injective (INJ) Faces Possible Correction
INJ price has surged nearly 45% in a week and 85% in a month, driven by significant developments in the artificial intelligence (AI) industry. It currently trades at $14.01, and a correction might be expected as traders book profits.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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