The explosive rally on PIPPIN has hit a temporary ceiling at 0.775. We are now seeing a healthy correction as the price seeks to establish a new higher low.
? Market Breakdown
Trend: Strongly Bullish but currently overextended.
Support Level: Major support sits at 0.613 (MA7), followed by a deeper structural retest zone near 0.533.
RSI Check: Currently at 69.01. It’s backing off from "Overbought" territory, suggesting more room for a downside shakeout before the next leg up.
Trade Setup
Entry Zone: entries between 0.610 – 0.580. This aligns with the 7-day Moving Average (Yellow line) which has historically acted as dynamic support during this pump.
Take Profit (TP): * TP1: 0.760 (Recent High)
TP2: 0.850 (Psychological level & Price Discovery)
Stop Loss (SL): Below 0.520. A daily close below this invalidates the short-term bullish momentum.
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