【$PIPPIN Signal】Long | Healthy Reset After Short Squeeze Initiation

$PIPPIN After nearly a 40% surge in a single day, the price consolidates within a narrow range below the previous high resistance zone. This is not the top, but a healthy cooldown after a short squeeze.

Market data shows that the funding rate is only 0.005%, far from dangerous levels, and open interest remains stable, indicating that bears have not surrendered en masse, and the short squeeze fuel is still present. The 4H RSI reaches as high as 80.4, but combined with negative/low funding rates and strong upward momentum, this is a typical short squeeze characteristic rather than an overbought top.

Deep data reveals a key point: order book depth imbalance reaches 14.55%, with buy-side depth (Bids) significantly thicker than sell-side (Asks), and the price remains above the EMA20 (0.2929). This indicates that during the price pause, strong institutional buy orders are supporting the market below, absorbing selling pressure and preparing for the next upward move.

Currently, the price is consolidating around 0.386, which is the moment to retest the previous breakout level (above the 0.343-0.352 zone) and test market strength. Volume is shrinking, and selling pressure is slight, typical of a bullish continuation pattern.

🎯Direction: Long

🎯Entry: 0.380 - 0.375 (Retest previous breakout zone upper boundary and EMA20 support)

🛑Stop Loss: 0.345 (Break below previous breakout structure low, invalidating the logic)

🚀Target 1: 0.450 (Previous high resistance zone)

🚀Target 2: 0.520 (Based on ATR and Fibonacci extension levels)

Trade here 👇 $PIPPIN

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