Cipher Mining ($CIFR) just bounced off its breakout trendline and pushed higher. Right now, it's sitting at what traders call a volume shelf—basically a zone where accumulation tends to happen before the next leg up.
What's interesting here? The coin successfully tested support and didn't cave. That's usually a bullish sign. If momentum holds, we're looking at $25.52 as the first major resistance level, which lines up with its previous peak. Beyond that? The golden ratio extension points toward $40.18, though that's more of a long-term optimistic scenario.
For anyone tracking this, the volume shelf is the key level to watch. Break above with decent volume, and those targets become realistic. Fail to hold here, and we might see another retest of lower support zones.
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ClassicDumpster
· 12-07 19:49
Damn, this support is pretty strong. Can it really go up to 25?
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StableGeniusDegen
· 12-07 10:51
The volume shelf is indeed worth paying attention to. It depends on whether it can break out with increased volume; otherwise, it will have to retest the previous level.
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SatoshiNotNakamoto
· 12-04 20:56
Volume shelf again? The last time I heard this term was when I was stuck holding bags.
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MetaMasked
· 12-04 20:52
The volume shelf at this position is indeed crucial, but to be honest, I've seen too many technical analyses like this go wrong.
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RektRecorder
· 12-04 20:46
Wait, we have to wait for the volume shelf again? How many times have we said this already, and yet we're still stuck in the same place.
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RektButStillHere
· 12-04 20:42
Damn, the volume shelf is back again. Every time someone mentions this, I just want to laugh. What happened to that $25 one you talked about last time?
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ColdWalletGuardian
· 12-04 20:33
The volume shelf part is indeed quite interesting, but I'll wait and see if it can truly hold steady before making a move.
Cipher Mining ($CIFR) just bounced off its breakout trendline and pushed higher. Right now, it's sitting at what traders call a volume shelf—basically a zone where accumulation tends to happen before the next leg up.
What's interesting here? The coin successfully tested support and didn't cave. That's usually a bullish sign. If momentum holds, we're looking at $25.52 as the first major resistance level, which lines up with its previous peak. Beyond that? The golden ratio extension points toward $40.18, though that's more of a long-term optimistic scenario.
For anyone tracking this, the volume shelf is the key level to watch. Break above with decent volume, and those targets become realistic. Fail to hold here, and we might see another retest of lower support zones.