$PIPPIN — 1-Day Downtrend Analysis 📉
Market Structure:
$PIPPIN is in a clear downtrend on the daily chart. Price broke below the critical 0.2695 support and is approaching 0.2292. Daily lows and highs show a series of lower lows and lower highs, confirming bearish momentum. The 24H high at 0.3381 acts as strong overhead resistance (~24% above current price).
Volume & Capital Flow:
Recent red candles have above-average volume (292M vs 30-day avg 180M), indicating strong selling pressure and capitulation. Net outflows are significant across all timeframes (-6.46M 24H, -13.49M 7D, -1.58M 2H), signaling institutional selling.
Key Levels:
Support (1D): 0.2292
Resistance (1D): 0.3485
Short Trade Setup:
Entry: 0.268 – 0.272
Stop Loss: 0.285
Target 1: 0.24 (~11.8% return)
Target 2: 0.229 (~15.9% return)
Notes:
Watch for bullish reversal patterns near 0.2292. A break below this level could accelerate selling toward 0.1905.
This setup favors disciplined short-term risk management while respecting the daily bearish structure.
#PIPIN #pipinutusdt