$pippin Once, not long ago, pippin was flying. The chart shows a peak near $0.91 a moment of euphoria, of promise. But markets are cruel storytellers. What followed is the kind of descent that leaves traders breathless.
Now, pippin sits at $0.052, down another -4.25% in the last stretch. The numbers on the left axis tell the tale: from 0.91 to 0.75, then 0.56, then 0.36, then 0.17, and finally, the current price of 0.052. It’s been a cascade, each support level giving way like a trapdoor.
- EMA(200): $0.249. This is the long‑term compass. Price is trading far below it a clear sign that the macro trend remains bearish. The distance is so wide that any recovery would first need to claw back more than 400% just to touch the 200.
- RSI(6): 5.09. This is not just oversold; it’s deep in the basement. On a six‑period basis, pippin hasn’t seen this kind of exhaustion in a while. It suggests that the selling pressure, while fierce, might be reaching a point of temporary saturation.
- MACD: DIF (-0.1006) below DEA (-0.0962), histogram negative (-0.00435). The bearish momentum is still in control, though the histogram isn’t aggressively expanding a hint that the pace of decline could be slowing
What we’re witnessing is a classic “blow‑off” top followed by a relentless slide. The peak near $0.91 acted as a vacuum, sucking in late buyers who are now trapped. Each bounce was sold, each level broken became new resistance.
Now, at $0.052, the market is asking a question: Is this the final capitulation?
The RSI is screaming exhaustion. When momentum indicators reach these depths, sharp bounces are common even if they’re short‑lived in a larger downtrend. The price is also approaching a zone where previous buying interest might re‑emerge, simply because the asset is now a fraction of its former self.