$IP USDT: Bearish Rejection at Resistance
The current chart for $IPUSDT on the 15-minute timeframe shows a clear rejection at the local resistance level. After a brief period of consolidation, the price failed to maintain its momentum above the 2.628 zone, forming a bearish structure. The highlighted "Short" setup indicates that the market is likely to seek liquidity at lower support levels.
Trade Setup:
Entry Range: 2.620 – 2.630 (Current market price or on a slight retest of the median line)
Target 1: 2.560
Target 2: 2.520
Target 3: 2.481 (Key liquidity level)
Stop Loss (SL): 2.684 (Above the recent swing high)
Short Market Outlook:
The short-term outlook for $IPUSDT remains bearish. The price is currently trading below the immediate resistance cluster. On the 15m chart, the red "Stop Loss" zone in your image shows significant selling pressure near the 2.671 - 2.684 range. Unless the price manages to reclaim and hold above 2.650 with strong volume, the path of least resistance is downward toward the 2.480 support zone. Traders should watch for a break below 2.600 to confirm the acceleration of this bearish move.
Would you like me to analyze the higher timeframes (1H or 4H) to see if there is a major support level nearby?
