1000SHIBUSDT Perpetual (2024-12-29):
5-minute chart:
. The current scenario shows a clear bearish trend.
. The current price of 0.021530 is below the VWAP (0.021995), the 200-period (0.021932), 50-period (0.021765) and 20-period (0.021646) moving averages, confirming significant selling pressure.
. After reaching a recent high at 0.022438, 1000SHIBUSDT formed descending highs and lows, indicating a continuation of the downtrend.
The price broke downwards from the consolidation region and previous POCs (points of highest trading volume in recent periods), reinforcing the dominance of sellers.
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