PIPPIN retraces after false breakout: Should traders buy or sell?

ambcryptoPublicado a 2026-02-28Actualizado a 2026-02-28

Resumen

PIPPIN, an AI memecoin, experienced a sharp retracement after a suspected false breakout above $0.755, dropping to $0.533. This decline was deeper than expected and occurred alongside Bitcoin's 6.9% drop to $63.7k, resulting in $2.64 million in long liquidations for PIPPIN. Despite the sell-off, the long-term outlook remains bullish as long as the price stays above $0.435. The $0.50-$0.55 zone is seen as a buying opportunity, with a key price target at $1.15. Short-term, buyers are advised to wait until March 2nd to see if the price tests the $0.466 liquidation zone. A bullish reaction there, combined with Bitcoin holding above $63k, could present a favorable entry, but a drop below $0.435 would invalidate this bullish scenario.

Pippin [PIPPIN] faced a steep retracement in the past 36 hours of trading. An AMBCrypto report noted that the AI memecoin had outpaced Bitcoin [BTC] by 22% in 24 hours earlier this week.

A breakout past the short-term range highs at $0.755 was anticipated, but the report warned that this breakout might be false. A retracement back within the range was expected. This dip has arrived, but it extended to $0.533, deeper than anticipated.

Bitcoin has been under severe selling pressure recently. In the past 48 hours, the leading crypto has plummeted by 6.9%, from $68.4k to $63.7k. During the intense sell-off of the past two days, PIPPIN bulls have faced $2.64 million worth of long liquidations.

Why long-term PIPPIN outlook remains bullish

The $0.5 demand zone had been highlighted earlier, and it has been retested by the 1-day session’s lower candlewick on Friday, the 27th of February. At the time of writing, PIPPIN retained the bullish daily structure as well.

A daily session close below $0.435 is necessary to flip swing traders’ biases bearishly. Until then, an approach of the $0.50-$0.55 would represent a buying opportunity.

Between the 14th and the 24th of February, the AI memecoin witnessed a bearish divergence between the price and the RSI. Combined with the Bitcoin sell-off, another visit to this demand zone appeared likely for Pippin.

To the north, the $1.15 Fibonacci extension level remained a valid price target.

Short-term buying opportunity for PIPPIN bulls

The short-term Bitcoin weakness was no secret, but it was impressive that PIPPIN retained its bullish 1-day timeframe structure. Zooming in on the 1-hour chart, we can see that the $0.50 demand zone has already yielded a strong bullish reaction.

However, over the weekend, more volatility is likely, especially late on Sunday. The $0.466 area had a cluster of long liquidations that could attract the price lower, according to the CoinGlass liquidation heatmap.

Based on the evidence at hand, PIPPIN bulls can wait till the 2nd of March to see if $0.466 is tested. A bullish reaction here, combined with BTC holding its ground above $63k, could present a buying opportunity.

On the other hand, a drop below the short-term range lows at $0.435 would invalidate this bullish idea.

Final Summary

The PIPPIN price action retained a bullish bias despite the swift crypto market selloff in the past 48 hours.
Buyers can wait till Monday to assess market sentiment before looking to buy PIPPIN around the $0.45-$0.50 demand zone.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Preguntas relacionadas

QWhat was the main reason for PIPPIN's recent retracement according to the article?

AThe retracement was primarily driven by severe selling pressure on Bitcoin, which plummeted 6.9% in 48 hours, causing a broader crypto market sell-off and leading to significant long liquidations for PIPPIN.

QWhat key price level must PIPPIN close below on the daily chart to turn the swing traders' bias bearish?

AA daily session close below $0.435 is necessary to flip swing traders' biases bearish.

QWhich demand zone is highlighted as a potential buying opportunity for PIPPIN bulls?

AThe $0.50-$0.55 demand zone is highlighted as a potential buying opportunity, with a more specific focus on the $0.45-$0.50 area for buyers waiting until Monday.

QWhat long-term price target does the article mention for PIPPIN?

AThe article mentions the $1.15 Fibonacci extension level as a valid long-term price target for PIPPIN.

QWhat event on the 1-hour chart suggests a potential short-term buying opportunity despite the retracement?

AOn the 1-hour chart, the $0.50 demand zone has already yielded a strong bullish reaction, suggesting a potential short-term buying opportunity, especially if there's a bullish reaction around the $0.466 liquidation cluster combined with Bitcoin holding above $63k.

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¡Bienvenido a HTX.com! Hemos hecho que comprar pippin (PIPPIN) sea simple y conveniente. Sigue nuestra guía paso a paso para iniciar tu viaje de criptos.Paso 1: crea tu cuenta HTXUtiliza tu correo electrónico o número de teléfono para registrarte y obtener una cuenta gratuita en HTX. Experimenta un proceso de registro sin complicaciones y desbloquea todas las funciones.Obtener mi cuentaPaso 2: ve a Comprar cripto y elige tu método de pagoTarjeta de crédito/débito: usa tu Visa o Mastercard para comprar pippin (PIPPIN) al instante.Saldo: utiliza fondos del saldo de tu cuenta HTX para tradear sin problemas.Terceros: hemos agregado métodos de pago populares como Google Pay y Apple Pay para mejorar la comodidad.P2P: tradear directamente con otros usuarios en HTX.Over-the-Counter (OTC): ofrecemos servicios personalizados y tipos de cambio competitivos para los traders.Paso 3: guarda tu pippin (PIPPIN)Después de comprar tu pippin (PIPPIN), guárdalo en tu cuenta HTX. Alternativamente, puedes enviarlo a otro lugar mediante transferencia blockchain o utilizarlo para tradear otras criptomonedas.Paso 4: tradear pippin (PIPPIN)Tradear fácilmente con pippin (PIPPIN) en HTX's mercado spot. Simplemente accede a tu cuenta, selecciona tu par de trading, ejecuta tus trades y monitorea en tiempo real. Ofrecemos una experiencia fácil de usar tanto para principiantes como para traders experimentados.

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Bienvenido a la comunidad de HTX. Aquí puedes mantenerte informado sobre los últimos desarrollos de la plataforma y acceder a análisis profesionales del mercado. A continuación se presentan las opiniones de los usuarios sobre el precio de PIPPIN (PIPPIN).