A Crypto Analyst Warns of Potential Correction for Dogecoin (DOGE) and Ethereum (ETH)
A well-known crypto strategist has raised concerns about the future of Dogecoin (DOGE) amidst a broader market correction. The analyst, known as Cheds, has a substantial following on social media and recently shared his thoughts on the potential price movements of DOGE, Ethereum (ETH), and XRP.
DOGE Facing Possible 33% Correction
Cheds predicts that DOGE could experience a significant correction, potentially dropping to the $0.11-$0.12 range if it fails to hold a key support level. He points to a bearish trend in the chart and warns investors to exercise caution. At the time of writing, DOGE is trading at $0.166.
Ethereum (ETH) Could Test $1,200-$1,300 Range
Cheds also suggests that Ethereum (ETH) may be headed towards its high time frame support level around $1,000. He advises investors to consider buying when ETH reaches the $1,200-$1,300 range. Currently, ETH is priced at $1,808.
XRP Bulls in Control, but Caution Advised
When it comes to XRP, Cheds believes that as long as the coin remains above $2, the bulls are in control. However, he suggests that investors should monitor the price closely and consider reducing risk if XRP drops below the key support level. XRP is currently valued at $2.12.
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