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$PIPPIN – Market Update
As previously mentioned, it is observed that professional traders continue to engage in short selling at resistance zones, betting on the asset's decline. In contrast, retail investors maintain long positions at support levels.
According to a survey conducted, more than 75% of participants strongly believe in the possibility of a new All-Time High (ATH). However, so far, neither side has shown enough strength to prevail.
The price of PIPPIN remains oscillating between $0.0245 and $0.0256, unable to break through the relevant resistances, but also not showing the sharp decline desired by professional traders.
In my assessment, the current outlook indicates that once traders holding short positions decide to close their bets, the stage will be set for the broader public and community to step in with stronger buying momentum.