Shiba Inu (SHIB) is currently facing selling pressure and a prolonged downtrend.SHIB's price action indicates a strong bearish cycle, with consecutive lower highs and lower lows on the daily chart.SHIB's RSI is in oversold territory, suggesting a possible relief rally could be near, but a long-term recovery is not guaranteed.SHIB's MACD indicator confirms the bearish momentum, with no signs of a bullish crossover occurring.