PIPPIN is currently quoted around 0.47445, and interesting signals have appeared on the technical side. From the candlestick pattern, the recent several small bearish candles have been continuously declining, combined with the previous spike and surge pattern, the market is gradually forming an arc top pattern — which is usually a precursor to a reversal.

From a trading opportunity perspective, here we can consider a short position to play a downward move. If the pattern is confirmed, the combination of a sharp drop and spike could provide a good downside space. The short-term target can be aimed near the 0.3 level to see if an effective downward breakout can be formed.