🔥$IP Bullish consolidation
Price Action Context:
• The K-line data shows a strong recovery from the 2.283 low, with a distinctive pin bar formation at 2.277 that marked the reversal point.
• Recent price action shows rejection near 2.64 (current 24H high), forming a potential double top pattern on lower timeframes.
• The rally from 2.277 to 2.64 represents a 15.9% move, making the market vulnerable to profit-taking.
Entry long $IP :
• Preferred entry: 2.52-2.54 (retest of broken resistance turned support)
• Alternative entry: Break above 2.64 with volume confirmation
Stop Loss: 2.43
Target Price $IP :
• Primary: 2.79
• Secondary: 2.97 (testing R3 resistance)
Support me just Click below to Trade 👇 Cheers.
A break below 2.43 would invalidate the bullish thesis and suggest a retest of 2.28-2.33 support zone.#ip #ipusdt #story