Popular Analyst Warns Correction In Shiba Inu, Dogecoin, Cardano And Injective

Cardano (ADA), Shiba Inu (SHIB), Dogecoin (DOGE), and Injective (INJ) rallied more than 10% during the crypto market recovery last week. However, a popular analyst predicts a correction in ADA, SHIB, DOGE, and INJ as an indicator in the daily chart shows a sell signal.

Shiba Inu, Dogecoin, Cardano And Injective To Witness Correction

Popular analyst Ali Martinez in a post on X shared that the TD Sequential indicator presents a sell signal for Cardano (ADA), Shiba Inu (SHIB), Dogecoin (DOGE), and Injective (INJ).

He predicts a correction, which is at least a 10% drop, in prices before ADA, SHIB, DOGE, and INJ can continue to upside momentum.

SHIB price fell 2% in the last 24 hours, with the price trading at $0.0000079. The 24-hour low and high are $0.00000789 and $0.00000808, respectively. Furthermore, trading volume has decreased by 20%, indicating a decline in interest from traders.

DOGE price fell 1% in the past 24 hours, but traders selling shorts brought some upside move. The 24-hour low and high are $0.068 and $0.070, respectively.

ADA price also jumped as traders closed short positions. The price is trading at $0.29, with a 24-hour low and high of $0.292 and $0.298, respectively. The community remains optimistic about Cardano surpassing the next resistance levels.

INJ price rallied nearly 45% in a week and 85% in a month amid major developments in artificial intelligence (AI) industry. Injective trades at $14.01, with a possible correction expected due to profit booking.

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.