🚨 I've been digging into $pippin lately – it's stuck in this consolidation phase, but honestly, it's got a bearish tilt that I can't ignore.
Volume's telling a story here: from the k-line data, there was a massive spike on those big red candles, hitting 53.1M, which feels like straight-up selling panic or capitulation. But on the recent upticks? Volume's been pretty meh, nothing screaming strong buyers stepping in. Those latest green candles are just average, no real accumulation vibe.
Capital flows are rough too – contracts are bleeding out across most timeframes, like -458k in 1H, -1.7M over 6H, and -1M in 24H. That's a clear sign folks are ditching longs or piling into shorts, sucking the leverage out and usually dragging prices down. Yeah, there's a positive 7D inflow, but the fresh selling pressure is just steamrolling it.
All in all, I'm leaning bearish $PIPPIN , probably favoring the downside plays.
For entries: If it cracks below that key support at 0.4103 with volume picking up, that's a solid short signal. Or, watch for a bounce up to around 0.4349 (old resistance now maybe support), and if it gets rejected – like with a pin bar or engulfing on the 1h – that could be a cleaner spot to jump in short with less risk.
Stop loss: I'd go 3-4% above your entry to play it safe. Say you get in at 0.41, stop around 0.425-0.427
Targets $PIPPIN : First eyeing 0.3968, the recent 24h low. If it keeps dropping, 0.3856 could be next
Anyone else seeing this or thinking it's ready to flip?
#Pippin #PIPPINUSDT