Shiba Inu price analysis (Bearish) — 0.00 USDT (-2.72% 24h)

SHIB/USDT is trading at $0.00000858, down 2.72% over the last 24 hours. The price is currently below both its 20-day SMA ($0.00000871) and 50-day SMA ($0.00000883), indicating a clear short-term bearish trend. The RSI reading of 33.33 places the asset in oversold territory, which could signal a potential near-term relief bounce or consolidation. However, the 24-hour volume of $9.63 million is relatively subdued, suggesting a lack of strong conviction from buyers at these levels. The elevated volatility reading of 3.8% underscores the asset’s inherent price swings. For traders, the current setup suggests caution. Aggressive traders might look for a bounce from oversold conditions, targeting a move back toward the 20-day SMA, but should use tight stops given the prevailing downtrend. Conservative traders should wait for a confirmed break and close above the 20-day SMA before considering long positions, as the path of least resistance remains downward for now.