$PIPPIN experienced a single-day surge of 39%, forming a narrow consolidation at a high level. This is a typical healthy reset after a short squeeze, not a top.
🎯 Direction: Go long
🎯 Entry: 0.355 - 0.357
🛑 Stop loss: 0.331 (rigid stop loss, below the low of the previous 4H candlestick and EMA20 support)
🚀 Target 1: 0.377 (previous high resistance)
🚀 Target 2: 0.400 (psychological round number)
Market analysis: Continuous volume increase with bullish candles at the 4H level, the last candlestick shows a contraction in volume indicating seller pressure is exhausted. RSI (78.76) is in the overbought zone, but the funding rate (+0.0050%) is mild, and the open interest is stable, eliminating the suspicion of the main force selling after pushing prices higher, aligning more with the characteristics of a short squeeze.
Core logic: Deep imbalance reached 19.73%, the buying pressure significantly exceeds selling pressure, indicating institutions are continuously placing orders around the current price to accumulate. The price remains above EMA20 (0.2702), and the trend structure is intact.
The key point is that after the surge, there was no decrease in open interest or an extremely positive funding rate indicating “main force closing long” signals, so any contraction back to the midpoint of the bullish candlestick (0.355-0.357) represents a low-risk area to go long. The stop loss is set below the volume initiation point, with a risk-reward ratio > 2.
Trade here 👇$pippin
---
Follow me: Get more real-time analysis and insights on the crypto market!
#Pigeon #kingorge #PEACE @币安广场 $ETH