【$PIPPIN Signal】Short covering rebound, long positions lurking

$PIPPIN 1H timeframe spikes up then pulls back, the 4H Bollinger upper band at 0.0377 forms short-term resistance, but funding rate is as high as 0.1048%, putting significant cost pressure on shorts. The 1H MACD histogram contracts, indicating momentum is pausing but not reversing. Market depth imbalance at -7.3%, sell orders are relatively thin, making it difficult for the price to fall sharply.

🎯Direction: Pullback to go long

⚡Entry/Order: Within the 0.03026 - 0.03752 range, consider entering in parts if the price pulls back near 0.0335 (1H EMA20).

🛑Stop loss: 0.03002

🚀Target 1: 0.03772

🚀Target 2: 0.03787

🛡️Trade management: - Execute strategy: halve the position at Target 1, move the remaining stop loss up to the entry price. If the price cannot hold above 0.035, consider exiting early.

In this high-fee environment, sideways movement is a drain on shorts. On the 1H timeframe, buy orders repeatedly appear in the 0.035-0.036 zone, with clear support below. The 4H MACD remains in strong expansion, indicating the larger cycle momentum has not exhausted. Combined with stable open interest, this looks more like a strong consolidation against high-fee shorts rather than distribution. The risk-reward ratio favors entering at this position.

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