PIPPIN IS ABOUT TO EXPLODE AGAIN??!!🔍 Chart Structure
Descending Wedge Breakout:
Price has broken out of a long-term descending wedge pattern.
This breakout is typically bullish, especially when accompanied by increased volume or momentum indicators turning up.
Support/Resistance Levels:
Current Price: ~0.0201 USDT
Key Resistance Zones:
0.02200 – Minor resistance
0.02310 – More substantial historical resistance
0.02473 – Intermediate target
0.02847 – Major target from chart box
Support Zones:
0.01815 – Key local support
0.01600 – Lower risk invalidation/support
Trade Box:
Green box = Potential long trade setup.
Looks like a Risk/Reward ratio of about 2.5–3:1 based on entry and stop vs. target.
Entry: ~0.0200
Stop: ~0.0182
Target: ~0.0284
📊 Indicators
RSI (Relative Strength Index):
Current RSI: ~41.75
Still in a neutral zone, suggesting there’s room for upside before becoming overbought.
Mild bullish divergence could be forming if previous lows were lower than the RSI lows.
⚠️ Considerations
Volume Confirmation: Look for increasing buy volume after breakout to confirm strength.
Retest of Wedge Line: If price pulls back, a retest of the breakout line could be a good secondary entry.
Macro Resistance: 0.0284–0.0300 has historically been a supply zone; expect selling pressure there.
✅ Potential Strategy
Long Entry: 0.0200 (Confirmed breakout)
Stop Loss: Below 0.0182
Target(s):
TP1: 0.0220
TP2: 0.0247
TP3: 0.0284
