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
The current RSI value of SHIB is 40.4, which is a sharp drop from 57 two days ago. This indicates that buying power has weakened and market sentiment has turned bearish.
The decline in the RSI suggests that sellers are gradually taking over, pushing prices close to the oversold zone, although not quite there yet.
The RSI is a momentum indicator that measures the speed and magnitude of price changes on a scale from 0 to 100. When the RSI is above 70, it generally indicates that the market is overbought and may be due for a correction, while below 30 indicates oversold conditions and may be due for a rebound.
Currently, the RSI of SHIB is 40.4, which is still in the bearish neutral range, indicating that there is a certain selling pressure in the market, but it has not entered the oversold area.
Therefore, the price of SHIB may continue to decline in the short term or fluctuate around the current level unless buying becomes strong again and drives the price back up.
The current downward trend of Shiba Inu is not particularly strong
Looking at SHIB’s Directional Movement Index (DMI), its Average Directional Index (ADX) is 19.13, which is lower than the higher value three days ago. The decline in ADX indicates that while the downtrend is still in place, its strength is weakening.
Meanwhile, D+ (positive indicator) dropped to 16.6 from 23 two days ago, indicating a weakening of buying momentum, while D- (negative indicator) rose to 23.7 from 18.6, indicating an increase in selling pressure. This situation means that sellers are currently dominating the market and buying interest is still weak.
ADX is an indicator that measures the strength of a trend, with values ranging from 0 to 100. It does not indicate the direction of the trend by itself. Generally speaking, an ADX below 20 indicates a weak trend, while an ADX above 25 indicates a strong trend. Currently, SHIB's ADX is 19.13, and although sellers are still in control of the market, the downward trend is not strong, as shown by the higher D-.
In the short term, this means that SHIB’s price may continue to experience bearish pressure, but if buying momentum resumes, the weak downtrend may cause the price to stabilize or enter a consolidation phase.
SHIB Price Prediction: Will It Return to $0.000015?
If the current downtrend in SHIB continues, the price might test the $0.0000198 support soon. If the downtrend resumes with strength, SHIB might decline further and the next supports might be near $0.000018 and $0.0000158.
Conversely, if the price of SHIB successfully resumes the uptrend and breaks above the $0.000022 resistance level, the coin might target $0.000024 or even higher levels of $0.000026.
These price levels highlight the importance of the $0.000022 resistance and $0.0000198 support levels, which will determine whether SHIB can reverse its current bearish trajectory and resume a more positive market outlook in the near term. These key price levels are critical thresholds to observe future movements.