$IP /USDT Testing Key Levels – Bounce or Breakdown Ahead
IP is currently trading around 1.0875 USDT on the 15m timeframe after a sharp rejection from the 1.175 high. Price experienced a strong wick down toward the 1.000 psychological level, indicating aggressive volatility and liquidity sweep before stabilizing.
Technical Analysis:
Immediate resistance is clearly sitting around 1.140 – 1.175, where sellers stepped in aggressively. A minor resistance zone is forming near 1.110 – 1.120 as price struggles to reclaim momentum. On the downside, key support is at 1.060, followed by the major psychological support at 1.000.
The short-term structure shows lower highs forming, suggesting weakening bullish momentum. Although indicators like RSI and MACD are not fully visible, price action indicates momentum cooling after the spike. Moving averages on lower timeframes appear flattening, signaling consolidation rather than trend continuation.
Market Sentiment:
Short-term sentiment is Neutral to Slightly Bearish. Bulls failed to hold above 1.120, while bears are gradually pushing price toward support. However, strong reaction from 1.000 shows buyers are still defending key levels.
Strategy:
Wait for confirmation. A clean breakout above 1.120 with volume could open the door toward 1.175 again. Alternatively, a breakdown below 1.060 may lead to a retest of 1.000. Conservative traders should wait for a decisive move before entering. Aggressive scalpers can trade range between 1.060 and 1.120 with tight risk management.
Are you expecting IP to reclaim 1.15 or revisit 1.00 first? Share your bias below.
Not Financial Advice (NFA).
$IP
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