$IP /USDC (Perpetual) – Technical Analysis

Bias: Short (Counter-trend / Mean Reversion)

Market Context

Price has rallied ~31% in 24h, showing parabolic extension.

Currently trading below the intraday high (2.987) → signs of buying exhaustion.

Likely profit-taking zone after impulsive move.

Key Resistance Zone

2.98 – 3.05 → major supply / rejection area

3.20 – 3.40 → extreme extension (only if squeeze happens)

Short Entry Zone

2.95 – 3.05

Ideal confirmation: upper-wick rejection / bearish 15m–1h close

Targets (TP)

TP1: 2.70 (VWAP / first demand)

TP2: 2.45 (breakout base)

TP3: 2.20 (24h low / strong support)

Stop Loss

Above 3.15 (clear invalidation & squeeze protection)

Indicators Insight

RSI likely overbought on lower timeframes

Momentum slowing after sharp impulse

Volume spike → often followed by pullback

Invalidation

Strong acceptance above 3.15 with volume → short idea invalid

Summary After a sharp