🔥 $IP Looking Bullish Amid Consolidation – Time for a Long Setup? 🚀
$IP is showing strong signs of a rebound after hitting a 24h low of 2.462. The price action over the last 4 hours has formed higher lows, capped by a classic bullish pin bar (Low: 2.462, Close: 2.616), signaling a clear rejection of lower prices!
Currently, we are seeing healthy consolidation around the 38.2% Fibonacci retracement level (measured from the drop of 3.225 to 2.462).
📊 Market Data & Analysis
Volume Support: The bulls are stepping in. We are seeing rising volume on upside moves (up to 8.4M on 1h candles), with a solid 24h total volume of 73.66M.
Capital Flow Divergence: There is an interesting story in the flows. We have Spot Net Inflows (+2.46M USDT) contrasting with Contract Outflows (-16.11M USDT). This often hints at retail accumulation while institutions sell.
Sentiment Shift: Watch the short-term flows—we just saw +800K USDT inflow in the last 30 minutes. This divergence often precedes a reversal!
🎯 Long Setup Strategy
Aggressive Entry: Near current levels (~2.828) with tight risk management.
Optimal Entry: Wait for a pullback to 2.70 - 2.72 (Confluence with MA5 support).
Stop-Loss: 2.62 (Below key support & MA20). Note: A break here invalidates the bullish thesis.
Targets:
2.883 (Primary Resistance)
3.014 (Secondary Target)
⚠️ Note: Keep an eye out for a short-term pullback before the continuation. Always DYOR and manage your risk!
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