Brothers, I am Hongcai! PIPPIN has increased by 45 times this year, and in the last 7 days, it has more than doubled, with a market value reaching 350 million USD! Many people ask me: Is it still possible to rush in now? Will buying lead to being stuck at the peak? Don't rush, let Hongcai calmly break it down for you!
News:
The rise of PIPPIN is indeed shocking, but a closer look at the data shows a liquidation of 1.22 million USD in the last 24 hours, with 730,000 USD in short positions liquidated, indicating that there are bulls strongly pushing up. However, trading volume is starting to shrink, and the heat may peak in the short term. This kind of rise often leads to a wave, and chasing high carries great risk!
Technical analysis
The price is oscillating around 0.355, with resistance above at 0.40 and support below at 0.22 and 0.134. The MACD has shown a bearish crossover underwater, and the RSI is also flattening at a high level, which is a signal for short-term adjustment. The volume has not continued to increase, indicating that chasing high funds are starting to be cautious.
Hongcai's viewpoint:
For this coin, don't get too carried away! I judge that PIPPIN will enter a period of oscillation or even pullback here. If it breaks below 0.3, it may test the 0.22 support. If it can break through 0.4 and stabilize, there will be a second chance for a higher surge; 0.45 is definitely not its peak!
What should you do?
If you are already in profit, it is recommended to take profits in batches and leave some positions for a higher bet, but set a stop-loss.
If you haven't entered yet, don't chase the rise! Wait for an opportunity to pull back to around 0.30 and try going long with a light position;
Remember: the stronger the rise, the harder the fall. Only play with profits, don't bet your entire fortune!
Behind the crazy surge is risk; waiting calmly is wisdom. The story of PIPPIN isn't over yet, but the next wave will definitely be an opportunity after a washout.
In the market, the most important thing is not to predict every wave, but to ensure you are always on the boat. The tide of liquidity will eventually lift all true value boats. Follow Hongcai and participate in every attack of Hongcai! Hongcai will announce specific entry times and real-time news every day at Caishen's house!#加密市场反弹 $pippin
