SHIB Price Slips 10% With Weak Bearish Momentum
Shiba Inu(SHIB) prices have fallen 10% in the past seven days after reaching their highest level since January 2024 on December 7. The recent pullback highlights the weakening momentum, with key indicators including relative strength index and DMI reflect 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 rebound above key resistance could signal a potential reversal and renewed bullish momentum in the near term.
SHIB RSI has been neutral since December 20
Shiba Inu The relative strength index (RSI) currently stands at 40.4, down from around 57 two days ago. This sharp decline indicates a loss of buying momentum and a bearish sentiment in the market.
Falling RSI levels indicate that sellers have gained control, pushing the price closer to oversold territory, but not quite yet.
RSI is a momentum indicator that measures the speed and magnitude of price changes on a scale of 0 to 100. Values above 70 indicate overbought conditions, which typically lead to a correction, while values below 30 indicate oversold conditions, which may lead to a rebound.
and SHIB The RSI is still in bearish neutral territory at 40.4, indicating that there is some selling pressure but has not yet reached oversold levels. In the short term, this could mean that SHIB’s price could continue to fall or stabilize around current levels, unless strong buying interest re-emerges to reverse momentum.
Shiba Inu’s current downward trend is not that strong
SHIB’s Directional Movement Index (DMI) chart shows that its Average Directional Index (ADX) is 19.13, down from the higher levels seen three days ago. The decline in ADX suggests Shiba Inu The current downtrend is weakening, but the trend remains intact.
D+ (positive indicator) fell to 16.6 from 23 two days ago, indicating weakening buying momentum, while D- (negative indicator) rose from 18.6 to 23.7, reflecting increased selling pressure. This combination suggests that sellers currently dominate the market, while buying interest continues to wane.
ADX is a trend strength indicator that measures the strength of a trend on a scale of 0 to 100, but does not indicate its direction. Values below 20 indicate a weaker trend, while values above 25 indicate a stronger trend. and SHIB ADX is at 19.13, and although a higher D- indicates that sellers remain in control, the downtrend lacks significant strength.
In the short term, this could mean that SHIB’s price could face continued bearish pressure, although the weakening trend suggests stabilization or consolidation is possible if buying momentum begins to return.
SHIB Price Prediction: Back to $0.000015 Soon?
if SHIB The current downward trend continues and the price may test the $0.0000198 support soon.
If the downtrend resumes strong, SHIB price The decline is likely to continue with a test of potential resistance levels near $0.000018 and $0.0000158 next.
On the contrary, if SHIB price If it successfully resumes the uptrend and breaks the resistance at $0.000022, the coin may target higher levels at $0.000024 or even $0.000026.
These levels highlight the importance of the $0.000022 resistance and $0.0000198 support levels as key thresholds in determining whether SHIB can reverse its bearish trajectory and regain a more positive outlook in the near term.
Disclaimer
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