IP Price Analysis

• IP was consolidating within a symmetrical triangle that was on the verge of a breakout at the apex of the pattern.
• The liquidation heatmap showed that crossing $5.50 could drive IP towards $5.70 and suggests bullish strength.

The price action of Story IP suggested a point of breakdown in a symmetrical triangle pattern. IP fluctuated between $3.50 and a high of $9.05, marking the range for the triangle pattern.

As of press time, IP’s price hovered around $5.00, indicating consolidation at the triangle’s apex and hinting at a potential near-term breakout.

The MACD indicator, with a histogram value of -0.0024, displayed bearish momentum, as the MACD line was marginally below the signal line.

An upward breakout from the pattern could push IP’s price above $9.00, provided the MACD histogram turns positive and the move is backed by higher trading volume.

Conversely, a breakdown below the pattern, with further weakening of the MACD, could drive the price down to levels below $3.00.

If the price of IP continues to trade within the pattern, a rebound toward higher levels might occur with a neutral MACD. Conversely, a bearish breakout could send IP down to $3.00.

Given current consolidation and a bearish MACD, a breach below $3.00 is more likely unless market sentiment strengthens, allowing IP to breach resistance to $10.00.

IP’s Liquidation and Spot Flow Ratio

Further analysis of the Binance IP/USDT pair, using the 24-hour liquidation heatmap on Coinglass, highlighted significant liquidity regions that seem to influence IP’s price movement.

At the time of writing, IP’s price ranged between $4.20 and $5.80, stabilizing around $5.00.

These liquidity-rich regions act as price magnets. Key levels include $5.50 as potential resistance, $5.00 as current support, $4.50 as minor support, and $5.70 as upper resistance.

This suggests that IP might trend toward $5.50, as prices often gravitate toward high-liquidity areas for stop-loss or forced liquidations. A breakout above $5.50 could propel the price to $5.70, indicating bullish momentum.

However, failing to hold above $5.00 could spark a decline to $4.50 amid increasing selling flows. Levels at $5.70 and $6.00 suggest higher-term objectives if a bullish trend persists.

The Coinglass IP Spot Inflow/Outflow chart also depicted a positive net flow in the last 24 hours. At press time, net flow varied between -$4M and $1M, with significant outflows of -$4M on February 25 and inflows of $1M on March 4. However, IP’s recent net flow stood at $175K.

Net flow approached zero, indicating flat action, while the price dropped from $7.00 to $5.00, suggesting selling pressure. Previous outflows may have moderated, while weaker inflow can limit upside force.

IP follow-through behavior might test $7.00 if inflows accelerate or drop to $4.09 if outflows prevail, reflecting underlying market uncertainty.