The recent price action on #PIPPIN has been a wild rollercoaster. After a massive pump reaching $0.55770, we are starting to see significant exhaustion from the bulls.
🔍 Technical Breakdown (4H Chart):
Rejection at the Top: Multiple long upper wicks near the $0.55 level indicate heavy selling pressure. This is a classic sign of "Smart Money" distributing their bags to late buyers.
Bollinger Bands: The price has spent too much time hugging the upper band and is now pulling back toward the Middle Band ($0.42118). A touch of this level seems inevitable.
Volume Analysis: We are seeing "Red Volume" spikes on the 4H timeframe, suggesting that big players are opening Short Positions to capitalize on the correction.
📉 Trading Strategy:
Bearish Target 1: $0.4200 (Middle Bollinger Band)
Bearish Target 2: $0.3200 (Key Support level)
Stop Loss: Above $0.5650 (To protect against sudden "short squeeze" pumps)
⚠️ Final Thought:
$pippin is currently a high-volatility meme play. If you missed the pump, don't chase the green candles. Watching for a breakdown below $0.48 could be the confirmation for a massive move down.
What do you think? Is PIPPIN going to $1.00 or back to $0.20? Let me know in the comments! 👇