$pippin This pig is picking up quite a lot, many brothers have gone long and short, however, the price has currently exactly touched a very strong psychological resistance area around 0.171-0.175 – this area has previously been a peak that rejected the price many times, at the same time coinciding with the long-term accumulation horizontal line and the Fib extension level 1.618 of the most recent upward wave, the volume exploded in the early stages of the pump but has started to noticeably decrease as the price approaches the peak, the RSI on the H4 frame shows a clear bearish divergence (the price creates a higher high but the indicator has created a lower high) combined with the current candle forming a strong pinbar/shooting star rejection right at resistance,

In the context where many other altcoins/memes are also losing strength after a hot increase, the possibility that PIPPIN will face a short-term correction back to lower support areas (around 0.15-0.16 or deeper) is very high, this is a typical case of "over-pumped hitting a hard wall", those holding long should consider gradually taking profits or tightening stop-loss, while those on the sidelines should not rush to chase highs at the current price to avoid getting stuck at the peak.

PIPPINUSDT

Perp

0.32483

-5.29%