Shib long-short ratio suggests bearish sentiment due to more than $ 1.8m in bullish bets liquid
A key indicator is flashing red for Shiba Inu (Shib) as the recent price drop in two months lows shaken bull-bull bets.
The indicator in consideration is the long-short ratio derived from the Perpetual Futures market. It measures the number of active longs or bullish bets related to shorts, which provides hints on market sentiment.
The ratio dropped to 0.9298, indicating a bearish sentiment to entrepreneurs, according to CoinDesk’s AI perspective. It follows the forced closure or extermination of long positions worth more than $ 1.8 million since June 12, according to data source coinglass. Exchanged liquid positions due to margin deficiencies. The dollar cost of shorts that is coated at this time is less than $ 500,000.
Over the past 24 hours, the derivatives market has shown a growing caution, with open interest drops by 2.14% to $ 145.33 million and long avoiding $ 244,000, compared to just $ 57,000 in short prevention.
Shib prices have dropped 10% to $ 0.00001164 since June 12, according to Data Source CoinDesk. Minor recovery from two-month less than $ 0.00001134 provides bullish hints on short-term price charts.
Key ai insights
- The Shib continues to hold support above the critical level of $ 0.00001100, indicating a potential recovery.
- The technical analysis shows a minor bullish varying in the sun -sun RSI, with MACD lines and signals approaching a bullish crossover that can push Shib to 23.60% FIBONACCI level at $ 0.00001390.
- In the above-average volume confirmed consumer interest with a closing price of $ 0.00001170, suggesting stabilizing above critical support.
- Time -Res RSI indicates oversold conditions, potentially setting up for a technical bounce if holding the $ 0.00001168 support level.
