Shiba Inu (SHIB) lost 6.5% in value over the last 24 hours and has seen a decline of over 21% in the last 30 days. Momentum indicators are giving mixed signals in the short term. The RSI has suddenly retreated to the neutral zone, indicating a decrease in bullish strength and increasing uncertainty among traders.

Technically, there is an approaching death crossover signal on the EMA lines; if bulls cannot quickly regain critical resistance points, sharper declines in SHIB’s price may be seen.

Shiba Inu RSI Retracted to Neutral Zone: Current Status

SHIB’s Relative Strength Index (RSI) sharply fell from 62.8 to 44.31 yesterday. This movement indicates a decrease in buying momentum and an increase in selling pressure.

RSI is a momentum indicator that measures the speed and intensity of price movements on a scale of 0-100. Generally, values above 70 indicate overbought conditions, while those below 30 indicate oversold conditions. Currently, SHIB’s RSI value of 44.31 indicates indecision and a neutral balance in the market.

A further decline in the RSI may indicate that the price will continue to face downward pressure, while remaining stable or rising could signal a possible recovery.

Positive Turn in BBTrend

SHIB’s BBTrend indicator recovered from -3.25 to a level of 0.54 three days ago. This movement indicates a weak but positive acceleration in momentum.

BBTrend measures the directional strength of price movement according to the Bollinger Bands; values above zero indicate an upward trend, while those below indicate a downward trend. The current value of 0.54 indicates that SHIB is in a recovery effort, albeit not strong yet.

If this rally continues, short-term traders may start buying with the expectation of a breakout above key resistance levels.

Death Crossover Warning on EMAs

Technical analyses indicate the risk of a death crossover where the short-term EMA may fall below the long-term EMA. If this occurs, SHIB may have to test the important support at the $0.0000123 level.

Falling below this support point could increase selling pressure, leading the price to decline to around $0.0000118.

However, if there is a recovery in buying momentum before the death crossover is confirmed, SHIB may initiate a bullish move toward the $0.0000134 resistance level.

A breakout of this level could create a short-term positive sentiment in the market and may drive the price into the range of $0.0000147 to $0.0000160. Of course, this scenario is only possible if buying interest recovers and the current downward pressure ceases.

In summary, SHIB is currently at a critical technical juncture. Traders are closely monitoring whether a death crossover will occur on the EMAs and whether bulls can recover the market.


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