Shiba Inu (SHIB) price has fallen 10% over the past seven days, after peaking on December 7 when it reached its highest levels since January 2024. The recent decline highlights the weakness in momentum, with key indicators such as the RSI and DMI reflecting a bearish shift in market sentiment.
While SHIB’s downtrend currently lacks significant strength, continued selling pressure could push the price towards key support levels. However, a recovery above critical resistance could signal a potential reversal and renewed bullish momentum in the short term.
SHIB's RSI has been neutral since December 20.
Shiba Inu Relative Strength Index (RSI) is currently at 40.4, down from around 57 just two days ago. This significant drop indicates a loss of buying momentum, with the market leaning towards bearish sentiment.
A move towards lower RSI levels indicates that sellers have taken control, pushing the price closer to the oversold zone, although it has not yet fully reached that area.
RSI is a momentum indicator that measures the speed and magnitude of price movements on a scale of 0 to 100. Values above 70 indicate overbought conditions, which often precede a correction, while values below 30 indicate oversold conditions, which could lead to a bounce.
With the SHIB RSI at 40.4, it remains in a bearish-neutral range, indicating some selling pressure without reaching oversold levels yet. In the short term, this could mean that SHIB price could continue to decline or stabilize near current levels unless strong buying interest emerges to change the momentum.
The current downtrend of Shiba Inu is not very strong.
The Directional Movement Index (DMI) chart for SHIB shows that the Average Directional Index (ADX) is at 19.13, down from highs just three days ago. This decline in the ADX suggests that the strength of the current downtrend for Shiba Inu is weakening, although the trend is still intact.
The D+ (Positive Directional Indicator) has dropped to 16.6 from 23 two days ago, indicating a decline in buying momentum, while the D- (Negative Directional Indicator) has risen to 23.7 from 18.6, reflecting an increase in selling pressure. This combination suggests that sellers are currently in control of the market, with buying interest continuing to wane.
ADX is a trend strength indicator that measures the strength of a trend on a scale of 0 to 100, without indicating its direction. Values below 20 indicate weak trends, while values above 25 represent strong trends. With the ADX for Shiba Inu at 19.13, the downtrend lacks significant strength, although sellers are maintaining control as indicated by the higher D-.
In the short term, this could mean that Shiba Inu price could see continued downward pressure, although the weak trend suggests a possible stabilization or consolidation if the buying momentum starts to recover.
SHIB Price Prediction: Back to $0.000015 Soon?
If the current downtrend of Shiba Inu continues, the price may soon test the support level at $0.0000198.
If the downtrend regains its strength, Shiba Inu price may continue to decline, testing potential resistance levels around $0.000018 and $0.0000158 next.
Conversely, if Shiba Inu price manages to regain its upward trend and break the resistance at $0.000022, the token could target higher levels at $0.000024 and even $0.000026.
These levels highlight the importance of $0.000022 resistance and $0.0000198 support as key thresholds to determine whether Shiba Inu can reverse its downward trajectory and regain a more positive outlook in the short-term.
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