【$PIPPIN Signal】Short Position Waiting for Healthy Pullback

After a 40% surge in a single day, $PIPPIN formed a high-level flag pattern on the 4H chart, but the RSI has already reached 78.59, indicating overbought conditions, and the Buy/Sell Ratio is only 0.51, showing a lack of willingness to chase the high.

🎯 Direction: Short Position

The current price is tightly hugging the lower edge of the flag at 0.384, with the sell wall above (around 0.3846) significantly thicker than the buy orders. Although the funding rate is positive (0.0080%), the open interest (OI) trend remains stable and has not increased significantly with the price rise, implying that the main force is not continuously adding positions, but rather retail traders FOMO-driven.

Order book imbalance (5.29%) indicates selling pressure is accumulating. The price has moved far away from the EMA20 (0.3019), suggesting a technical pullback is needed. At this point, chasing longs is extremely risky and falls into the category of mindless chasing.

Waiting for the price to undergo a healthy correction to key support areas (such as the previous breakout level around 0.337 or EMA20), accompanied by declining volume and RSI correction back to around 50, before considering going long. Patience is advised now to avoid becoming a high-position buyer.

Trade 👇 $PIPPIN

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