The price of Shiba Inu (SHIB) continues to be under pressure, causing concern among traders. Analysis of the current situation shows the possibility of a short-term recovery, although risks remain high.
Current Situation of SHIB Price
Currently, the price of Shiba Inu is around $0.00001086 after a prolonged decline. The chart utilizing Heikin Ashi candles shows predominately red candles, indicating bearish market sentiment. The Relative Strength Index (RSI) is at 24.71, indicating oversold conditions.
SHIB Support and Resistance Levels
Based on the current chart, the key support and resistance levels are as follows:
* Immediate support: $0.00001079 * Major support: $0.00000800 * Resistance zone: $0.00001250 to $0.00001400
The Shiba Inu price has previously bounced from the $0.00001070–$0.00001080 range, and the current RSI supports the potential for a short-term rebound. If the support breaks, a retest at $0.00000800 looks likely, which represents a drop of 26.33% from the current price.
Future Predictions and Possible Scenarios
There are two main scenarios:
* Bearish Scenario: * SHIB price breaks below $0.00001079 support. * Tests the $0.00000800 level. * RSI remains below 30 — bearish continuation likely.
* Bullish Scenario: * RSI bounces from 24.71 and crosses above 30. * SHIB price breaks $0.00001250 resistance. * Heads toward $0.00001400 in a recovery move.
Thus, the current situation regarding the price of Shiba Inu requires close attention. Traders and investors should monitor RSI signals and support levels that may indicate opportunities for both recovery and further decline.
