Cardano, Dogecoin & Shiba Inu — Asian Wrap 12 Oct

Cardano price action suggests that some near-term selling pressure is likely to come in unless buyers step in and provide support. It is effortless to find a bias for leaning bearish as well as bullish at present. Currently, the conviction of the buyers is being tested – and they don’t have much time to respond before a breakdown occurs.

Dogecoin price may have triggered some fears of a resumption of some intense selling pressure after closing nearly -8% lower on Sunday. Those fears were easily justified given that the Sunday close was below the last primary support levels on the daily Ichimoku chart.

Shiba Inu price action has been a textbook model of technical analysis theory – the more extended consolidation, the more impactful any breakout. However, evidence of another leg higher exists and continues to develop. The market can remain irrational longer than you can remain solvent.