$IP experienced a long liquidation near $2.5106, flushing overleveraged bullish positions after rejection from recent highs. This move signals a short-term reset rather than structural failure. Key support is now located at $2.34–$2.40, a demand zone that must hold to prevent deeper correction. Holding this area allows price to stabilize. Immediate resistance stands at $2.65, the breakdown level that needs to be reclaimed. A confirmed break above resistance would activate the next upside target at $2.95, followed by $3.25 if momentum rebuilds. Failure to hold $2.34 would expose $2.12 as the next downside liquidity pocket. Structure favors consolidation before continuation—confirmation remains essential.
IPUSDT
Perp
1.155
-1.70%