🚨 PIPPIN/USDT: Is the Meme Momentum Back? A Critical Analysis of the Charts!

Market Outlook: After a period of significant retracement from its all-time high, Pippin has shown recent signs of a potential reversal. The price has been consolidating and has a history of sharp, volatile moves. Some technical indicators and on-chain metrics point to potential renewed interest, but caution is warranted due to the token's meme and AI-focused nature.

💡 Futures Trading Plan (Neutral Stance):

🟩 Long Entry Trigger: Look for a confirmed breakout and candle close ABOVE the resistance level of $0.0175 on a higher timeframe (e.g., 4H or Daily) with significant volume. A successful retest of this level could serve as a higher-confidence entry.

💰Targets: $0.0190, $0.0210, and potentially $0.0230.

🛑Stop Loss: Below the breakout candle's low or below the support zone around $0.0160.

🟥 Short Entry Trigger: Consider a short if the price shows a strong rejection at the $0.0175 resistance and a confirmed breakdown BELOW the current support area around $0.0160. This would confirm the continuation of the bearish trend.

💰Targets: $0.0150, $0.0145, and toward the previous lows near $0.0125.

🛑Stop Loss: Above the resistance zone at $0.0176.

Your Action Plan:

01 - ⏳ Wait for Confirmation: Do not rush into a trade. Wait for a clear breakout or breakdown to be confirmed by a candle close. The volatility in meme coins means false breakouts are common.

02 - 🛡️ Use a Stop-Loss: Always protect your capital. A stop-loss is essential, especially with highly volatile assets like PENGU.

03 - ⚖️ Manage Your Risk: Consider position sizing appropriate for your risk tolerance. Do not over-leverage, given the inherent risks.

📢 What are your thoughts?

Vote: Do you think PENGU will continue its bounce or fall back to previous lows?

Bounce and Break Higher

Fall Back to Lows

Comment: Share your analysis below!