#BinanceMegadropSolv

siba Inu (SHIB) Tests Resistance Amid Waning Bullish Momentum

Shiba Inu (SHIB) has surged nearly 14% in the past week, bringing its market cap to $14 billion and solidifying its spot as the second-largest meme coin after DOGE. While the recent rally signals strength, SHIB’s RSI indicates a moderate bullish phase, leaving room for additional gains if momentum builds further.

The $ADX shows $SHIB is still in an uptrend, but weakening as selling pressure grows. A potential golden cross could drive SHIB to test resistance levels for further upside. However, losing momentum might lead to a correction toward key support levels.

Shiba Inu RSI Is Down After Touching 76

Shiba Inu Relative Strength Index (RSI) is currently at 60.8, recovering from its dip to 56 on January 5 after peaking at 76 on January 3. The RSI is a momentum indicator that measures the speed and magnitude of price movements on a scale from 0 to 100.

Readings above 70 indicate overbought conditions, often signaling a potential pullback, while readings below 30 suggest oversold conditions and the possibility of a price rebound