Today I’ve been watching PIPPIN’s chart closely, and the more I look, the more I see the patterns emerging. The hourly chart has made its stance clear—it wants to move down, but it’s not going to be that straightforward. In the crypto world, price moves on the surface are just the tip of the iceberg; what really matters is the force behind them.

Let’s talk about liquidations. In the past 24 hours, over $8 million has been wiped out, and short liquidations are double the longs—plus some! What does this mean? A bunch of bottom-fishers got kicked out halfway up the hill, and now there’s a nervous vibe spreading through the market.

The technicals are even more straightforward. 0.21880 is the first resistance above, and above that, 0.25500 is basically “don’t even think about it” territory. On the downside, 0.17300 is the first support you can hope for right now, but if you’re looking for a real floor, you’ll probably have to check around 0.13100. The most critical point is the MACD forming a death cross above the zero line, which translates to: short-term bullish momentum has fizzled and the bears are quietly gaining strength.

Here’s my take: in the short term, the price will likely be stuck in a tug-of-war between 0.21880 and 0.17300. If it bounces up to around 0.21880 and loses steam, that’s your cue to go short; if it drops to 0.17300 and holds, there might be a small rebound to catch. This is called playing the range—you’re earning hard-fought gains from the back-and-forth.

But if the bears really go for it and smash through 0.17300, don’t hesitate—your eyes should go straight to the 0.13100 level.