Price Analyst Foresees Potential Short-Term Declines for ADA, DOGE, SHIB, and INJ

Crypto News– Ali, a renowned figure in the cryptocurrency trading and analysis community, shared insights in a recent post (referred to as X post) today. He highlighted the presence of a sell signal on the daily charts of several cryptocurrencies according to the TD Sequential indicator. Notably, Shiba Inu (SHIB), Dogecoin (DOGE), Cardano (ADA), and Injective (INJ) were singled out as potentially experiencing slight price declines shortly.

Price Analyst Foresees Potential Short-Term Declines for ADA, DOGE, SHIB, and INJ

Despite these bearish signals, Ali remained cautiously optimistic in his post. He suggested that a temporary correction might precede a resumption of the upward trend for these cryptocurrencies.

Interestingly, it appears that INJ and SHIB may have already felt the impact of these sell signals. CoinMarketCap data revealed that both of these altcoins saw their prices decrease over the past 24 hours. At the time of reporting, SHIB had dropped by 0.40%, trading at $0.000007918. INJ’s price stood at $13.72, reflecting a 0.98% loss in the past 24 hours. On the other hand, DOGE and ADA managed to maintain positive momentum. DOGE, a leading meme coin, showed a minor gain of 0.07% at the time, trading at $0.06868. ADA outperformed the other cryptocurrencies mentioned in Ali’s post, with a 24-hour gain of 0.58%, pushing its price to $0.2941.

Ali’s belief in the potential for these cryptocurrencies to resume their upward trajectories after a temporary correction could be attributed to their impressive weekly performances. SHIB surged by more than 11% over the past 7 days, while INJ posted an astonishing 40.56% gain during the same period. Meanwhile, the recent daily performances of DOGE and ADA further bolstered their weekly performance, with ADA recording an 11.47% gain over the past week and DOGE’s weekly performance standing at +9.79% at the time of the report.