Shiba Inu (SHIB) is signaling a rise after reaching a 16-month low, and market sentiment is following a positive trend. The MACD indicator provided a bullish crossover, offering potential for lasting upward momentum in the short term. Additionally, the positive Chaikin Money Flow (CMF) indicator indicates that strong buying pressure continues. With these developments, SHIB could reach the level of $0.00001362 with an increase of around 17%.

Signs of a Bullish Reversal in Shiba Inu

Recently experiencing a sharp wave of selling, Shiba Inu has begun to signal a potential bullish reversal. As risk appetite in the crypto market gradually recovers, SHIB's price looks ready to increase its gains in the short term.

On June 22, SHIB had dropped to its lowest level in 16 months. This decline was parallel to the sharp sell-offs in the overall crypto market. However, the ceasefire agreement reached between Israel and Iran initiated a recovery rally in the crypto market, and market sentiment improved rapidly.

Technical Indicators Gaining Strength

Currently, SHIB is trading around $0.00001162 and has recorded an increase of about 16% from its recent low. Technical analyses are particularly highlighting the MACD indicator. For the first time in about 39 days, a successful bullish crossover occurred, which is a sign of increasing momentum. The MACD line (blue) crossed above the signal line (orange) and provided a bullish trend signal in price movements.

MACD is an important tool used to capture changes in price trends and momentum. Being above the signal line indicates that buying pressure is increasing and a potential upward period has begun. This situation is generally considered a buying signal by investors and may lead to an increase in SHIB demand.

Capital Inflow and Increasing Demand

In addition, SHIB's Chaikin Money Flow (CMF) indicator is in an upward trend. Currently at the level of 0.15, this indicator shows that the capital inflow into the asset exceeds the sales. Positive CMF indicates that investors' interest in SHIB has increased and they are taking more positions.

Upward Target and Risks

The recovery of market sentiment and bullish signals in technical indicators may herald an ongoing upward movement for Shiba Inu. If demand continues to rise, SHIB could reach a level of $0.00001362 with an increase of approximately 17%.

However, if a possible profit-taking or renewed deterioration in sentiment occurs under market conditions, it is possible for the price to pull back to the multi-year low point of $0.00001004.

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