1000SHIBUSDT Perpetual (2024-12-30):
5-minute chart:
. After renewing lows at 0.020521, the 1000SHIBUSDT pair staged a strong recovery, surpassing the opening price (0.021339) and the VWAP (0.021276), suggesting a possible relief in the short-term downtrend.
. The price is now close to the 200 DMA (0.021506), which acts as a relevant resistance.
In addition, the previous POCs (purple dotted lines) 0.021750, 0.021705 and 0.021665, represent critical resistance zones where large trading volumes occurred in previous periods.
. For a solid bearish trend reversal, the price needs to break the 200 MM and overcome these POCs, consolidating above them.
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