1000SHIBUSDT Perpetual (2024-12-31):
5-minute chart:
. The price has reached the relevant consolidation region.
. The recent POCs (0.021750, 0.021705, 0.021677, and 0.021665) reflect the regions of highest trading volume, forming an important resistance zone.
. A sustained break above these POCs could open up space for further highs, allowing the price to test higher resistances, such as the daily high (0.021881) or the previous relevant high at 0.022438.
. On the other hand, rejection in this area may indicate a possible pullback, with dynamic support being represented by the VWAP (0.021069) and the moving averages (MM9, MM20, MM50 and MM200), which have been providing increasing support to the upward movement.
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