This correction is healthy because it flushes out late longs and forces the market to reset after an extended push. Moves that continue without pullbacks usually fail, while corrections like this allow price to rebuild structure and attract stronger hands.

$PIPPIN just saw a long liquidation of $1.9171K around $0.47302, and I’m watching this area closely. This zone stands out because it previously acted as a base where price consolidated before the last expansion. When price revisits a former support after a liquidation, it often becomes a decision point rather than a breakdown level.

From a technical view, this area also lines up with a key retracement of the most recent impulse leg. We’ve seen clear reactions here before, which tells me there’s strong market memory. I’m watching how price behaves because they’re building strength instead of accelerating lower. If this level holds, the overall structure stays bullish.

Trade setup I’m watching: Entry Zone: $0.465 – $0.478

Target 1: $0.512

Target 2: $0.558

Stop Loss: $0.448

I’m staying patient and letting price confirm. If this level holds and we start seeing tighter ranges or higher lows, that’s my signal. They’re building strength in this zone, and if this level holds, the next move higher can develop with better balance and conviction.