Shiba Inu (SHIB) reached its highest point since January 2024 on December 7 but has fallen 10% over the past seven days. The pullback shows a weakening of momentum in the market, with key indicators like the RSI and DMI showing bearish sentiment.
Although the downtrend in SHIB is not particularly strong at the moment, if the selling pressure continues, the price may fall to some important support levels. However, if the key resistance level is broken, a rebound or even a new upward momentum may be ushered in in the short term.
SHIB’s RSI has remained in neutral territory since December 20
SHIB's current RSI value is 40.4, significantly down from 57 two days ago. This indicates a weakening buying power and a shift in market sentiment towards bearish.
The decline in RSI indicates that sellers are gradually dominating, pushing the price closer to the oversold area, although it has not fully entered the oversold region.
RSI is a momentum indicator used to measure the speed and magnitude of price changes, ranging from 0 to 100. When the RSI is above 70, it usually indicates that the market is overbought and a correction may occur; while below 30 indicates an oversold state, which may lead to a rebound.
Currently, SHIB's RSI is 40.4, still in the bearish neutral zone, indicating that there is some selling pressure in the market, but it has not yet entered the oversold area.
Therefore, in the short term, SHIB's price may continue to decline or oscillate around the current levels, unless buying strength picks up again to push the price higher.
The current decline trend of Shiba Inu is not particularly strong.
From SHIB's Directional Movement Index (DMI), its Average Directional Index (ADX) is 19.13, lower than the higher value from three days ago. The decline in ADX indicates that while the downward trend still exists, its strength is weakening.
At the same time, D+ (positive indicator) has decreased from 23 two days ago to 16.6, indicating a weakening buying momentum; while D- (negative indicator) has risen from 18.6 to 23.7, suggesting increased selling pressure. This situation implies that sellers currently dominate the market, and buying interest remains weak.
ADX is an indicator that measures trend strength, ranging from 0 to 100, and it does not indicate the direction of the trend itself. Generally, an ADX below 20 indicates a weak trend, while above 25 indicates a strong trend. Currently, SHIB's ADX is 19.13, and although sellers still control the market, the strength of the downward trend is not strong, as indicated by the higher D-.
In the short term, this means that SHIB's price may continue to face bearish pressure, but if buying momentum recovers, the weak downward trend may stabilize or enter a consolidation phase.
SHIB Price Prediction: Will it return to $0.000015?
If SHIB's current downward trend continues, the price may soon test the support level of $0.0000198. If the downward trend regains strength, SHIB may fall further, with the next support levels potentially around $0.000018 and $0.0000158.
On the contrary, if the price of SHIB successfully recovers the upward trend and breaks through the resistance level of $0.000022, then the token may aim for higher levels of $0.000024 or even $0.000026.
These price levels highlight the importance of the resistance level at $0.000022 and the support level at $0.0000198, which will determine whether SHIB can reverse its current bearish trajectory and restore a more positive market outlook in the short term. These key price levels are critical thresholds for observing future trends.
