IP Coin has experienced a volume-driven decline of over 10%, and the price has fallen into a weak consolidation pattern with repeated oscillations at the low levels. From a technical perspective, this presents a typical retracement in a downtrend—selling pressure persists, buying cannot keep up, trading volume remains high, and open interest stays elevated.

What does this combination of data usually imply? Either the bulls are nearing liquidation, or the main players are looking for an opportunity to offload. Currently, the price is hovering near the intraday low, and any rebound momentum appears weak, making it difficult to generate an effective sign of a trend reversal.

From a trading standpoint, the 2.35 to 2.40 range is worth paying attention to—this is both a potential resistance zone during a rebound and a relatively manageable entry point in terms of risk. If the price truly rebounds into this range, it is likely just a signal of supply surging again rather than a trend reversal. Set stop-losses at 2.55 (former support turned resistance), with target levels at 2.15 and 1.95.

The core logic is simple: as long as the price cannot convincingly reclaim the 2.55 key level, the downside space remains open. The current technical setup does not support an optimistic outlook for the bulls.