🚨 $PIPPIN SHORT: VOLATILITY SPIKE REJECTION? 📉 [Short]
PIPPIN is exhibiting high volatility, recently reaching a 24h high of 0.56396 before facing a sharp correction. The 15m chart shows a struggle to maintain position above the 0.50685 (EMA 25) level, with price action characterized by long wicks, indicating heavy selling pressure at higher levels.
📉 TRADE SETUP
Entry Zone: 0.5030 – 0.5180 (Wait for a retest of the EMA 25 resistance)
Target 1: 0.4740 (Retest of the recent local low)
Target 2: 0.4450 (Major support level below the current range)
Stop Loss: 0.5350 (Safe gap above the recent consolidation peak)
🔍 THE ANALYSIS
The price is currently showing signs of exhaustion after its massive weekly run of +30.13%. On the 15m timeframe, the MACD histogram is starting to flatten, and the price is trading just below the 0.50588 (EMA 7), suggesting a short-term bearish shift. By setting the Stop Loss at 0.5350, we account for the extreme volatility of PIPPIN (which has seen a 2411% increase over 90 days) while protecting against "stop-hunt" wicks. A breakdown below the 0.47426 level would confirm a deeper correction toward the 0.44 support zone.
Will PIPPIN hold the 0.50 level or is a deep correction to 0.45 incoming? Let us know your move! 👇
