The Road Ahead for Shiba Inu (SHIB) – How to Make Sense of 35% Drop in 50 Days. The Shiba Inu (SHIB) price is trading in the middle of a long-term range between $0.0000060 – $0.0000080. In lower timeframes, the SHIB price is trading inside a corrective pattern. Descent Causes Breakdown Below Support The weekly timeframe technical analysis for the SHIB price gives a bearish outlook because of the price action. A descending resistance trendline rejected the SHIB price in July (red icon). This created a long upper wick and catalyzed the ongoing downward movement. During the descent, SHIB also broke down below the $0.0000080 horizontal area, which had been providing support. Crypto investing, simplified. Get SHIB price predictions here. After such breakdowns, horizontal support areas often turn to resistance. Another touch of the area and subsequent decrease will confirm the $0.0000080 area as resistance. The horizontal area is very close to the descending resistance trendline. The weekly RSI is also bearish. With the RSI as a momentum indicator, traders can determine whether a market is overbought or oversold and decide whether to accumulate or sell an asset. Bulls have an advantage if the RSI reading is above 50 and the trend is upward, but if the reading is below 50, the opposite is true. At the same time, the trendline rejected the price; the RSI was rejected at 50 (red circle) and is now falling. These are both considered signs of a bearish trend. SHIB Price Prediction: Will Breakout Occur?