Recently, PIPPIN has experienced a notable price fluctuation that has drawn attention — short liquidations reached $919,000 within 12 hours, with coin prices surging 31% during the same period. At first glance, this appears to be a good buying opportunity, but a closer examination of the chart details reveals some intriguing signals.
From a technical perspective, the current price remains suppressed by multiple key moving averages. The bearish alignment formed by EMA7, EMA25, and EMA99 continues to firmly control the upside space, while the MACD indicator oscillates below the zero line, reflecting an overall weak trend. Notably, there is a significant deviation between the mark price ($0.359) and the current price, indicating that the perpetual futures market is trading at a considerable premium. This situation often harbors risk.
From this angle, the recent rally could result from several possibilities: first, whales accumulating positions at higher levels to counter subsequent pressure; second, bullish sentiment in the futures market being overly concentrated, making it a target for contrarian operations; third, price still being in a rebound phase of finding a bottom, rather than a trend reversal.
Based on this assessment, a relatively prudent trading approach might be:
First, consider contrarian opportunities in the $0.40-$0.41 range, which represents a relative high point; second, if the price breaks below the $0.36 support level, consider adding positions, signaling support breakdown; place the stop loss above $0.425, providing sufficient stop loss space to withstand whale probing. Following this approach, preliminary target levels can focus on $0.34 and $0.20 as two key price points.
Any trade ultimately comes down to probability and risk management. Rational traders should avoid chasing short-term FOMO sentiment and instead formulate plans based on objective technical signals. After violent rallies typically comes greater pullback pressure — this is a pattern validated by years of market operations.
Recently, PIPPIN has experienced a notable price fluctuation that has drawn attention — short liquidations reached $919,000 within 12 hours, with coin prices surging 31% during the same period. At first glance, this appears to be a good buying opportunity, but a closer examination of the chart details reveals some intriguing signals.
From a technical perspective, the current price remains suppressed by multiple key moving averages. The bearish alignment formed by EMA7, EMA25, and EMA99 continues to firmly control the upside space, while the MACD indicator oscillates below the zero line, reflecting an overall weak trend. Notably, there is a significant deviation between the mark price ($0.359) and the current price, indicating that the perpetual futures market is trading at a considerable premium. This situation often harbors risk.
From this angle, the recent rally could result from several possibilities: first, whales accumulating positions at higher levels to counter subsequent pressure; second, bullish sentiment in the futures market being overly concentrated, making it a target for contrarian operations; third, price still being in a rebound phase of finding a bottom, rather than a trend reversal.
Based on this assessment, a relatively prudent trading approach might be:
First, consider contrarian opportunities in the $0.40-$0.41 range, which represents a relative high point; second, if the price breaks below the $0.36 support level, consider adding positions, signaling support breakdown; place the stop loss above $0.425, providing sufficient stop loss space to withstand whale probing. Following this approach, preliminary target levels can focus on $0.34 and $0.20 as two key price points.
Any trade ultimately comes down to probability and risk management. Rational traders should avoid chasing short-term FOMO sentiment and instead formulate plans based on objective technical signals. After violent rallies typically comes greater pullback pressure — this is a pattern validated by years of market operations.