Shiba Inu Faces Technical Pressure Despite Anniversary Milestone

I observe that Shiba Inu ($SHIB) is currently trading near its lower Bollinger Band support, indicating potential technical pressure on the price. The RSI at 37.85 suggests the momentum is relatively weak but not oversold, signaling that there could be room for a bounce or further decline depending on market sentiment. Despite this technical landscape, $SHIB is celebrating its 5th anniversary, which might serve as a psychological milestone for investors. The price is consolidating around critical resistance levels, meaning it is testing key zones that could either lead to a breakout or a reversal. The current trading near the lower Bollinger Band indicates that $SHIB might be oversold in the short term, but without clear signs of a reversal, caution is warranted. The RSI level supports the idea that sellers have dominated recently, yet the celebration anniversary could inject some positive sentiment or increased trading volume. The consolidation around resistance levels suggests a battle between bulls and bears, where a decisive move beyond resistance could trigger a significant rally, whereas a rejection might lead to further declines. This setup highlights the importance of observing further technical signals and volume before making trading decisions. The anniversary celebration adds a narrative element that might temporarily boost the price, but technical strength and momentum should be considered for timing entries or exits. Overall, the outlook remains mixed, with potential for either a bounce or continued weakness depending on upcoming market developments.