$IP has recently shown clear signals in its trend. After a volume-driven decline, the price action exhibits typical weak breakout characteristics—high open interest accompanied by a downward move, which usually indicates that long positions are being liquidated or that the main players are distributing their chips.

From the details on the chart, the daily timeframe has already fallen by 9.10%, and key support levels have been broken. Interestingly, the open interest has not decreased with the price drop; instead, it remains high, further confirming that the bears are continuously exerting pressure. You will notice that any rebounds at lower levels appear weak, with buying attempts immediately met with selling, indicating that the selling pressure is dominant in the market.

From a trading perspective, the shortest path of least resistance in this situation is likely to continue downward. As long as the price does not re-establish above 2.55, there remains an opportunity for a short position.

🎯 Shorting strategy reference:
Entry range: 2.35-2.40
Stop loss: 2.55 (hard stop)
First target: 2.10
Second target: 1.85

Of course, this type of analysis is based solely on current technical features. Actual trading decisions should also consider your own risk tolerance.