1000SHIBUSDT Perpetual (2025-01-05):
1-hour chart:
. After reaching the important consolidation region at 0.024900, the 1000SHIB/USDT pair entered a corrective movement.
. It is trading above the VWAP (0.023868) and close to the POC (05/01/2025) at 0.023780, suggesting a slight recovery after the selling pressure.
. Immediate support is at the daily POC (0.023780), while relevant resistances can be seen at yesterday's open at 0.024326 and the historical POC at 0.024900, which also coincides with the previous day's high (0.024931).
. The recent break above the 200 MM (0.023884) on the 1-hour chart reinforces a possible attempt to reverse the bearish trend in the short term. However, to consolidate this reversal, the price needs to sustain above the VWAP, breaking intermediate resistances.
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check out the chart below:
