Crypto
Shiba Inu RSI Hits 50: Bulls Eye $0.000005
The Relative Strength Index (RSI) for Shiba Inu has hit 50, indicating a balance between buying and selling pressure. This signal is crucial to watch for SHIB's next price move.
In July, SHIB saw a sharp surge towards its close, surpassing $0.00000582 on July 26, where resistance was encountered. The RSI indicator moved in lockstep with Shiba Inu price; when SHIB price surged, the RSI indicator went through the roof, reaching overbought levels of 77.
Currently, the daily RSI is slightly above 50, at 52, suggesting a market waiting for a stronger catalyst. If Shiba Inu price starts rising, the $0.000005 level remains the first point of call for the bulls.