Shiba Inu (SHIB) price has been trading sideways over the past seven days but remains down 27% in the last 30 days, reflecting a broader period of weakness. Despite recent signs of recovery, momentum indicators like the RSI and BBTrend suggest that SHIB is still struggling to establish a clear direction.
However, a potential golden cross forming on the EMA lines could signal a bullish breakout, with SHIB eyeing key resistance levels at $0.000017 and $0.000019. On the downside, if selling pressure resumes, SHIB could retest support at $0.000014.
SHIB RSI Is Currently Neutral, Down From 60.8
Shiba Inu RSI is currently at 52 after a sharp move yesterday that saw it surge from 50 to 60.8. The Relative Strength Index (RSI) is a momentum indicator used to measure whether an asset is overbought or oversold on a scale of 0 to 100.
Typically, an RSI above 70 signals overbought conditions and a potential price pullback, while an RSI below 30 indicates oversold conditions and the possibility of a rebound.
When the RSI hovers around the 50 mark, it suggests a lack of strong momentum in either direction, meaning the asset is in a neutral zone without a defined trend.
With the meme coin’s RSI now sitting at 52, it indicates that the recent bullish momentum has faded slightly, but the price is not yet in a bearish state. While RSI above 50 can suggest slight bullish strength, it is not strong enough to confirm a breakout.
If SHIB can regain momentum and push RSI back above 60, it could signal increasing buying pressure and a potential continuation of the uptrend.
However, if RSI continues to decline below 50, it may indicate weakening demand, leaving SHIB vulnerable to further consolidation or even a pullback.
