The recent market movement of IP is interesting. After a daily volume surge and a 9.10% decline, the price directly broke through a key support level, presenting a typical weak breakout pattern.

The issue lies in the high open interest (OI) — usually, after such a significant drop, OI should decrease. But currently, OI remains quite high. Combined with the market behavior, it suggests that long positions are being liquidated in a chain reaction, or that large funds are distributing chips. Both possibilities point in the same direction.

Market details further illustrate the problem. Selling pressure comes wave after wave, with no signs of decent absorption. Any rebounds on the lower timeframes (LTF) appear weak and are quickly crushed. This rhythm indicates that downward momentum still exists, with the least resistance path.

From a trading perspective, opportunities are emerging:

🎯 Short position
🎯 Entry zone: 2.35-2.40
🛑 Stop loss set at: 2.55 (this is a rigid stop-loss level)
🚀 First target: 2.10
🚀 Second target: 1.85

The premise is whether the price can regain and stay above 2.55. If it cannot, the downward space will continue to open up.