Shiba Inu (SHIB) Eyes Reversal as RSI Hints at Bottom Near Key Support

Shiba Inu (SHIB) may be nearing a potential rebound, as its Relative Strength Index (RSI) hovers just above 35—close to the oversold threshold. Historically, dips into this RSI zone have preceded short-term price bounces for SHIB, and the current 3.5% recovery from the $0.0000106 level suggests renewed buyer interest near critical support.

The price range between $0.0000105 and $0.0000110 has served as a strong psychological and technical floor, repeatedly defended since March. With the broader market showing signs of stabilization and trading volume slowly increasing, there are early signs of accumulation from bottom buyers.

However, relying solely on RSI can be misleading. During prolonged downturns or bear markets, oversold conditions can persist longer than expected. RSI is a momentum-based tool and doesn't factor in broader market trends or on-chain activity. If selling pressure intensifies, SHIB’s RSI could stay low or drop further.

Technically, SHIB remains below key moving averages—the 50, 100, and 200-day lines—signaling the overall trend is still bearish. For a sustained recovery, SHIB needs to reclaim resistance at $0.0000124 and $0.0000131, levels it failed to hold in recent attempts.

While indicators hint that SHIB may have found a short-term bottom, confirmation is needed through increased volume and stronger price structure. Without these, the risk of SHIB adding another zero remains, especially if downward pressure returns. Traders should stay cautious and watch for decisive movements above resistance levels before confirming a trend reversal.