SHIB Rebounds from Oversold Territory, Technical Indicators Signal Potential Recovery

Shiba Inu (SHIB) experienced a sharp technical rebound after its Relative Strength Index (RSI) fell into deeply oversold territory, pausing a steady decline that had pushed the token toward multimonth lows. This shift occurred as selling pressure eased, prompting buyer entry and signaling early exhaustion among sellers. SHIB remains below its 50, 100, and 200-day moving averages, confirming a broader bearish trend, but trading volume held steady during the downturn, suggesting controlled unwinding rather than panic-driven exits.

Analysts emphasized that the rebound is driven by technical triggers, such as the RSI reset and slowed downside momentum, rather than a fundamental sentiment shift. Key resistance lies in the $0.0000095 to $0.000010 range, where the 20-day and 50-day moving averages converge. A rejection at this level could indicate the rebound is temporary, while stability above $0.0000080 might signal reduced selling pressure and early accumulation. Conversely, a breakdown below recent lows could target the $0.0000070 liquidity zone, though consistent buy volume during the rebound makes this scenario less likely for now.