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Shiba Inu (SHIB) Price Decline Highlights Bearish Shift, Eyes Key Support
Shiba Inu (SHIB) price has declined 10% over the past seven days, following its December 7 peak when it reached its highest levels since January 2024. The recent pullback highlights weakening momentum, with key indicators such as 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 toward key support levels. However, a recovery above critical resistance could signal a potential reversal and renewed bullish momentum in the short term.
SHIB RSI Has Been Neutral Since December 20
Shiba Inu Relative Strength Index (RSI) is currently at 40.4, down from approximately 57 just two days ago. This significant drop indicates a loss of buying momentum, with the market leaning toward a bearish sentiment.
The move toward lower RSI levels suggests that sellers have gained control, pushing the price closer to oversold territory, though not yet fully in that zone.
SHIB RSI. Source: TradingView
RSI is a momentum indicator that measures the speed and magnitude of price movements on a scale from 0 to 100. Values above 70 indicate overbought conditions, which often precede a correction, while values below 30 suggest oversold conditions, potentially leading to a rebound.
With SHIB RSI at 40.4, it remains in a bearish-neutral range, indicating some selling pressure without yet reaching oversold levels. In the short term, this could mean that SHIB’s price may continue to decline or stabilize near current levels unless strong buying interest re-emerges to shift the momentum.
Shiba Inu Current Downtrend Is Not That Strong
SHIB’s Directional Movement Index (DMI) chart shows its Average Directional Index (ADX) at 19.13, down from higher levels just three days ago. This decline in ADX indicates that the strength of Shiba Inu current downtrend is weakening, though the trend remains intact.
The D+ (positive directional indicator) has dropped to 16.6 from 23 two days ago, signaling reduced 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 currently dominate the market, with buying interest continuing to fade.
SHIB DMI. Source: TradingView
ADX is a trend strength indicator that measures the intensity of a trend on a scale from 0 to 100, without indicating its direction. Values below 20 signal weak trends, while values above 25 represent strong trends. With SHIB ADX at 19.13, the downtrend lacks significant strength, despite sellers maintaining control as indicated by the higher D-.
In the short term, this could mean SHIB’s price may see continued bearish pressure, though the weakening trend suggests the possibility of stabilization or consolidation if buying momentum begins to recover.
SHIB Price Prediction: Back to $0.000015 Soon?
If SHIB current downtrend persists, the price could soon test the support level at $0.0000198.
Should the downtrend regain strength, SHIB price may continue to decline, with potential resistance levels around $0.000018 and $0.0000158 being tested next.
SHIB Price Analysis. Source: TradingView
Conversely, if SHIB price manages to recover its uptrend and break above the resistance at $0.000022, the token could target higher levels at $0.000024 and even $0.000026.
These levels highlight the importance of the $0.000022 resistance and the $0.0000198 support as key thresholds for determining whether SHIB can reverse its bearish trajectory and regain a more positive outlook in the short term.
While SHIB’s downtrend currently lacks significant strength, continued selling pressure could push the price toward key support levels. However, a recovery above critical resistance could signal a potential reversal and renewed bullish momentum in the short term.
SHIB RSI Has Been Neutral Since December 20
Shiba Inu Relative Strength Index (RSI) is currently at 40.4, down from approximately 57 just two days ago. This significant drop indicates a loss of buying momentum, with the market leaning toward a bearish sentiment.
The move toward lower RSI levels suggests that sellers have gained control, pushing the price closer to oversold territory, though not yet fully in that zone.
SHIB RSI. Source: TradingView
RSI is a momentum indicator that measures the speed and magnitude of price movements on a scale from 0 to 100. Values above 70 indicate overbought conditions, which often precede a correction, while values below 30 suggest oversold conditions, potentially leading to a rebound.
With SHIB RSI at 40.4, it remains in a bearish-neutral range, indicating some selling pressure without yet reaching oversold levels. In the short term, this could mean that SHIB’s price may continue to decline or stabilize near current levels unless strong buying interest re-emerges to shift the momentum.
Shiba Inu Current Downtrend Is Not That Strong
SHIB’s Directional Movement Index (DMI) chart shows its Average Directional Index (ADX) at 19.13, down from higher levels just three days ago. This decline in ADX indicates that the strength of Shiba Inu current downtrend is weakening, though the trend remains intact.
The D+ (positive directional indicator) has dropped to 16.6 from 23 two days ago, signaling reduced 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 currently dominate the market, with buying interest continuing to fade.
SHIB DMI. Source: TradingView
ADX is a trend strength indicator that measures the intensity of a trend on a scale from 0 to 100, without indicating its direction. Values below 20 signal weak trends, while values above 25 represent strong trends. With SHIB ADX at 19.13, the downtrend lacks significant strength, despite sellers maintaining control as indicated by the higher D-.
In the short term, this could mean SHIB’s price may see continued bearish pressure, though the weakening trend suggests the possibility of stabilization or consolidation if buying momentum begins to recover.
SHIB Price Prediction: Back to $0.000015 Soon?
If SHIB current downtrend persists, the price could soon test the support level at $0.0000198.
Should the downtrend regain strength, SHIB price may continue to decline, with potential resistance levels around $0.000018 and $0.0000158 being tested next.
SHIB Price Analysis. Source: TradingView
Conversely, if SHIB price manages to recover its uptrend and break above the resistance at $0.000022, the token could target higher levels at $0.000024 and even $0.000026.
These levels highlight the importance of the $0.000022 resistance and the $0.0000198 support as key thresholds for determining whether SHIB can reverse its bearish trajectory and regain a more positive outlook in the short term.
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