$PIPPIN/USDT is up nearly 4% today (Feb 12)** to **~$0.50+, extending weekly gains to over 75% . This marks the third consecutive day of recovery, with price surging past the psychological $0.5000** mark . The 24-hour trading range has been volatile, with volume climbing to nearly **$70M .
📈 Chart & Technical Analysis
Bullish momentum is strong but nearing overbought territory. Key Fibonacci levels: token now targets the **61.8% retracement at $0.5045** (from Dec 24 high $0.7200 to Feb 5 low $0.1559) .
Critical Levels:
· Immediate Resistance: $0.5306** (capping since mid-Dec). A decisive close above targets **$0.5993 (78.6% Fib) then $0.7200 ATH .
· Immediate Support: $0.45 (broken resistance turned support) .
· Major Support: $0.4379 (50% Fib) .
Indicator Watch: RSI at 67, approaching overbought (70). MACD bullish, histogram expanding . ⚠️ Warning: Some sources show NVT ratio at all-time highs (4195), suggesting price may be overheated . Price trades significantly above 50 & 200 EMA in bullish alignment .
💧 Volume & Market Sentiment
· 24h Volume: ~$70M . Social media buzz and retail demand are primary drivers .
· ⚠️ Red Flags: Development activity has slowed; top 10 wallets hold over 67% supply – high concentration risk . Derivative data shows sellers stepping in at $0.515-0.530, with specific short entries targeting $0.471 then $0.415 .
🎯 Trade Plan (High Risk)
Bias: Bullish but cautious. Momentum strong, but momentum indicators and NVT signal potential exhaustion.
· Aggressive Long (Breakout): Wait for **decisive close above $0.5306**. Stop below $0.515. TP1 $0.560, TP2 $0.599, TP3 $0.720.
· Cautious Long (Pullback): Entry on retest of **$0.45-0.47 support** (prior breakout level). Stop below $0.43. TP $0.53.
· Short Setup (Counter-Trend): Rejection from **$0.515-0.530** with volume fade. Stop above $0.538. Targets: $0.471, $0.415 .
⚠️ Critical Risk: This rally appears speculative, with limited fundamental updates . High insider concentration and cooling momentum indicators demand strict stop-losses and small position.
