$IP
IPUSDT — Testing Resistance After Strong Rally
IPUSDT is trading at $2.193, showing +1.29% daily gains as it tests resistance after a significant +41.94% monthly rally. The price is approaching the 24h high of $2.245 but faces immediate resistance near $2.200. Despite recent strength, IP remains down -54.90% quarterly, indicating this is a recovery within a larger downtrend.
Trade Plan (LONG)
Entry (Long): $2.150 - $2.180 (Pullback to support after rally)
Target 1: $2.240 - $2.250 (24h high retest)
Target 2: $2.300 - $2.350 (Next resistance zone)
Stop Loss: $2.120 (Below key support and recent low)
My View
IP is experiencing a strong recovery bounce within a larger bear trend. The current setup offers a long entry for a continuation toward the $2.30 area. The risk-reward is favorable with a clear invalidation level. However, given the asset's volatile history (-65% over 180 days), position sizing should be conservative and profits should be scaled out. A break above $2.245 could accelerate gains, while failure below $2.120 would suggest the recovery is failing.
