1000SHIBUSDT Perpetual (2024-12-31):
5-minute chart:
. The POC (Point Of Control) has moved to 0.021280, reflecting a new concentration of volume in the region that now acts as a key resistance.
. The current price, at 0.021182, is below the updated POC, indicating prevailing selling pressure in the short term.
. The region of previous POCs (0.021750, 0.021705, 0.021677), together with the daily high (0.021881), continues to represent a significant resistance, which the price has failed to break in recent attempts.
. The moving averages, including the 200 MM and VWAP, are aligned at levels higher than the current price, reinforcing the difficulty for buyers to recover higher levels. The market is showing signs of weakness, with the price oscillating in an intermediate region, without enough strength to break resistance or consolidate support.
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