IP Token Under Pressure: Technical Breakdown

IP has lost ground hard lately. Down 6.9% over the past day, the bleeding extends to nearly -19.7% when you zoom out to the weekly chart.

What's driving the weakness?

The token just broke below key moving averages—a textbook bearish signal. RSI has plunged to around 20, which typically screams oversold territory. Normally that'd spark buying interest, but the volume just isn't there. Buyers are hanging back.

Market sentiment is decidedly grim. The Fear & Greed Index sits at 22, reflecting widespread anxiety across the market. Layer in the adoption headwinds and persistent unlock concerns, and you've got a cocktail of bearish pressure.

The critical level to monitor: $1.70. Break below that and the downside target swings toward $1.00—a move that would erase significant value. Position sizing matters here.