Altcoins News
By Sakamoto Nashi
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Shiba Inu (SHIB) is flashing early signs of a trend reversal after falling to its lowest price in over a year.
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The recovery comes at a crucial time for the asset, which had been under heavy selling pressure for weeks before bouncing off a multi-year low.
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On June 22, Shiba Inu briefly dropped to its lowest level since early 2023. The sell-off was part of a broader downturn affecting the entire crypto market, fueled by geopolitical…
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However, that trend began to reverse as news of a ceasefire agreement between Israel and Iran triggered a relief rally in global markets.
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The recovery has drawn renewed interest from traders and analysts alike, especially as key momentum indicators began to flash bullish signals.
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One of the most significant technical developments is the bullish crossover on SHIB’s Moving Average Convergence Divergence (MACD) indicator.
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The MACD is a popular tool used to gauge trend direction and momentum. When the MACD line rises above the signal line, it typically indicates growing buying strength and an early…
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This crossover suggests a potential shift in market sentiment and a break from the downtrend that had dominated SHIB’s chart throughout June.
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Backing up the bullish case is the behavior of the Chaikin Money Flow (CMF) indicator, which measures the volume-weighted average of accumulation and distribution over a period…
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As of this writing, the CMF for SHIB sits at +0.15, firmly in positive territory. This level indicates strong capital inflows and growing buying pressure.
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When combined with the MACD crossover, the rising CMF creates a compelling technical case for an extended price recovery.
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If the current momentum continues, analysts suggest that Shiba Inu could climb another 17% from its current levels, targeting the $0.00001362 price range.
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However, this bullish forecast depends on the strength of continued demand. If the overall crypto market remains stable and investor interest holds, SHIB could ride the wave of…
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Despite these promising signals, risks remain. The broader crypto market continues to be volatile, and any renewed uncertainty could trigger profit-taking among short-term traders.
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Should sentiment shift again, SHIB could retrace toward its recent low of $0.00001004, a key support level that has so far held up during periods of selling pressure.
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