Brothers, I am Hongcai. PIPPIN has surged nearly 1500% in 30 days, it's simply a myth! The price is now stuck at this key position of 0.4 US dollars, caught between a rock and a hard place. Is this a halftime break after the surge, or a precursor to the end of the show?
Technical Analysis
Let's calmly look at the data first. A month of rising more than ten times, this kind of trend itself is like a spring that is tightly wound, ready to bounce back at any moment. Indicators like RSI and MFI have probably long been dulled in the overbought zone.
Looking at the chart, the upper levels of 0.48 and 0.55 are two heavy high-voltage grids, where a massive amount of profit-taking has accumulated. There is a key rule here: the first significant retracement after such a violent surge often surprises most people, as it usually tests a key golden ratio position...
Can we still play? Of course, but the play has changed! For such a huge increase in coins, the strategy must be to look for opportunities during retracements, never chase highs or kill lows.
Short-term: You can closely monitor the price performance around the 0.48 resistance level when it rebounds. If there is a significant stagnation, you can try a short position with a very small amount. Remember, this is just a short-term game based on resistance, and the position should be extremely light.
Steady: I strongly advise you to hold back and wait patiently! Wait for the market to complete this necessary profit-taking and cleansing. The ideal entry point is not now, but when the price fully retraces to the range of 0.3-0.22, and there are signs of declining momentum and bottoming signals on the hourly chart, then consider gradually positioning. That is the secondary starting point with a better risk-reward ratio.
My opinion
The current PIPPIN is a fierce confrontation between emotional frenzy and the need for technical correction. I judge that the market needs a strong retracement to release risks and allow for sufficient turnover of chips. Those who wait to buy the dip at a slight retracement may end up buying halfway up the mountain. The real opportunity belongs to those who are extremely patient.
If you are attracted by its astonishing surge but are afraid of becoming a bag holder, that feeling is right. In this market, it is safe to earn money within your understanding. In the chat room, I will not only track the chip structure and capital trends of such surging coins but also focus on teaching you how to identify top signals during the bubble period and the secondary buying points after value return, avoiding deep traps and capturing the next wave.
Do you want to know where that key golden retracement level is? In this wild market, I need you to stay calm, and I will guide you in the chat room. #加密市场观察 $pippin
