{"id":120645,"date":"2023-07-11T03:52:55","date_gmt":"2023-07-11T03:52:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/shiba-inu-traders-can-target-this-range-for-their-next-move-crypto-news\/"},"modified":"2023-07-11T03:52:57","modified_gmt":"2023-07-11T03:52:57","slug":"shiba-inu-traders-can-target-this-range-for-their-next-move-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/shiba-inu-traders-can-target-this-range-for-their-next-move-crypto-news\/","title":{"rendered":"Shiba Inu traders can target this range for their next move.\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i data-stringify-type=\"italic\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer&#8217;s opinion.<\/i><\/p>\n<ul>\n<li><em>The market structure of Shiba Inu was bearish on the higher time frame charts.<\/em><\/li>\n<li><em>The short-term bullish momentum over the weekend has already begun to falter.<\/em><\/li>\n<\/ul>\n<p>The crypto market has not been kind to meme coins.  According to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/view\/memes\/\" data-wpel-link=\"external\">CoinMarketCap<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/shiba\" data-wpel-link=\"internal\">shiba inu [SHIB]<\/a>  is the second-largest such coin by market cap. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/dogecoin\" data-wpel-link=\"internal\">Dogecoin [DOGE]<\/a>  sits first, and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/pepe\" data-wpel-link=\"internal\">pepe [PEPE]<\/a>  at third.<\/p>\n<hr\/>\n<p style=\"text-align: center;\">read <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/shiba-inu-price-prediction\" data-wpel-link=\"internal\">Shiba Inu&#8217;s [SHIB] Price Prediction<\/a> 2023-24<\/p>\n<hr\/>\n<p>From July 7 to July 9, Shiba Inu climbed from $0.00000706 to $0.0000078, noting a 10.5% gain.  Yet, higher timeframe price charts showed that the coin lacked a bullish market structure despite the rally in June.  The bears have been under control since late February.<\/p>\n<h4>The bullish order block has been a line of defense for SHIB bulls.<\/h4>\n<div id=\"attachment_326453\" style=\"width: 1950px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-price.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326453\" class=\"size-full wp-image-326453\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-price.png\" alt=\"Shiba Inu forms a short term range, here's how traders can approach the situation\" width=\"1940\" height=\"1099\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-price.png 1940w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-price-300x170.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-price-1024x580.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-price-768x435.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-price-1536x870.png 1536w\" sizes=\"auto, (max-width: 1940px) 100vw, 1940px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-326453\" class=\"wp-caption-text\">Source: SHIB\/USDT on TradingView<\/p>\n<\/div>\n<p>On 20 June, Shiba Inu formed a bullish order block on the 4-hour chart.  Highlighted by the cyan box, it continued to serve as a region of support.  Moreover, SHIB has formed a range over the past two weeks.<\/p>\n<p>Marked in yellow, this range extended from $0.00000703 to $0.00000785.  The most recent bounce saw <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/how-whales-triggered-shiba-inus-bullish-frenzy-over-the-weekend\/\" data-wpel-link=\"internal\">whale trading<\/a> climb to a three-month high but the range highs were not tested before the bulls faced rejection.<\/p>\n<p>The subsequent move towards the mid-range line (dotted white) showed that the sellers were dominant in the market.  The OBV has oscillated over the past two weeks without a clear direction.  So too did the RSI as momentum swung from bearish to bullish and back again.<\/p>\n<h4>The Open Interest surge over the weekend began to falter.<\/h4>\n<div id=\"attachment_326452\" style=\"width: 1933px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326452\" class=\"size-full wp-image-326452\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Shiba Inu forms a short term range, here's how traders can approach the situation\" width=\"1923\" height=\"1116\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze.png 1923w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze-300x174.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze-1024x594.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze-768x446.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze-1536x891.png 1536w\" data-lazy-sizes=\"(max-width: 1923px) 100vw, 1923px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326452\" class=\"size-full wp-image-326452\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze.png\" alt=\"Shiba Inu forms a short term range, here's how traders can approach the situation\" width=\"1923\" height=\"1116\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze.png 1923w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze-300x174.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze-1024x594.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze-768x446.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-3-SHIB-coinalyze-1536x891.png 1536w\" sizes=\"auto, (max-width: 1923px) 100vw, 1923px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-326452\" class=\"wp-caption-text\">Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinalyze.net\/1000shib\/open-interest\/\" data-wpel-link=\"external\">Coinalyze<\/a><\/p>\n<\/div>\n<p>As SHIB faced rejection from near the range highs on Sunday, July 9, the Open Interest began to fall.  This showed discouraged longs.  On July 8, the trend was the opposite\u2014short-term speculators were wildly bullish as more than $10 million flowed into the market.<\/p>\n<hr\/>\n<p style=\"text-align: center;\">How much are <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" data-wpel-link=\"internal\">worth 1, 10, or 100 shibs<\/a> today?<\/p>\n<hr\/>\n<p>The funding rate of the asset remained bullish, which suggested that the majority were not shorting Shiba Inu.  Yet that doesn&#8217;t mean the sentiment toward the meme coin was bullish.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer&#8217;s opinion. The market structure of Shiba Inu was bearish on the higher time frame charts. The short-term bullish momentum over the weekend has already begun to falter. The crypto market has not been kind to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":120646,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-120645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/120645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=120645"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/120645\/revisions"}],"predecessor-version":[{"id":120647,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/120645\/revisions\/120647"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/120646"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=120645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=120645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=120645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}