š„ $PIPPIN: Current Market Update
Monitoring $PIPPIN closely. Here's a breakdown of the current market setup and potential trading scenarios.
Volume spiked +1.06B in 24h, driving a 23.47% gain. However, diminishing volume near highs and long upper wicks suggest profit-taking after the recent rally.
Currently trading around $0.4233, just 2.32% below its 24h high. This indicates a healthy consolidation phase after breaking prior resistance levels.
Capital flow presents a mixed signal:
- Big 24h outflow (-$6.32M) suggests early profit-taking.
- Yet, shorter timeframes (4H-12H) show positive inflows, indicating sustained momentum.
Cautiously bullish on $PIPPIN for a momentum play. High volatility (37.51% daily range) necessitates strict risk management.
Entry Strategies for $PIPPIN: š
- Safer Entry: Wait for a dip to $0.395-$0.405 (retest of old resistance as support).
- Aggressive Entry: Consider current levels (~$0.4233) with reduced size.
SL:
- $0.4085 (for aggressive entry).
- $0.3810 (for safer entry).
TP:
- TP 1: $0.4778
- TP 2: $0.5200
A break below $0.395 would shift sentiment to cautious, potentially leading to a deeper pullback towards the MA20 (~$0.3182). Currently, a long bias with tight stops prevails.
What are your thoughts on $PIPPIN? Share your insights! š
#Pippin #PIPPINUSDT
