PIPPIN Potential Bullish Impulse BrewingPippin (PIPP) exhibits a completed five-wave motive decline terminating towards a well-defined External Demand Zone, signaling a high-probability reversal area. The current structure reflects the onset of a corrective Wave 2 retracement, with early indications of a Wave 3 impulsive advance underway.
The Immediate Demand Zone has acted as a structural support base, with bullish rejection from the predefined sell-off zone confirming latent buying pressure. Price action recently formed an intra-wave correction around the 0.0457 pivot, likely marking the end of a minor wave within the developing larger impulsive cycle.
Sustained bullish momentum above the rejection zone would confirm the initiation of Wave 3, with Fibonacci-based extension targets projecting a medium-to-long-term rally toward $2.80. Conversely, failure to hold above the Immediate or External Demand Zones would invalidate the bullish impulse and expose the asset to a potential deeper corrective retracement.
