Recently, many people have noticed that although the price of Shiba Inu Coin has been falling for a while, it has not continued to drop significantly. In other words, the strength of the bears is weakening, and the market has entered a "wait-and-see period."

From the price trend, SHIB is currently slowly forming a slight upward structure at the bottom. You can understand it as: each time the price retraces, it does not fall below the previous low but instead rises a little bit. This situation usually appears when a decline is about to end.

However, this does not mean that a big surge will happen immediately. The current shape resembles a mixed state of a downward channel and a descending wedge, indicating that the market is still hesitant. Generally speaking, there are three common outcomes in such areas:

1️⃣ A slight rebound

2️⃣ Continued sideways consolidation for a while

3️⃣ A drop again after a period of fluctuation

This means that the direction has not yet fully emerged.

Looking at the momentum indicators, the RSI (Relative Strength Index) is currently around 40, which is a crucial value:

It's not low enough to indicate extreme fear

Nor high enough to indicate obvious strength

This suggests that sellers are still selling, but they are not as anxious anymore. The previous panic selling has basically come to an end, and market sentiment is slowly cooling down.