Story [IP] falls 10% in 24 hours – But this dip might be temporary

Key takeout

Why do IP drops become temporary?

Strong retail participation and buyer domination in the future suggest that decline may be a short-term fix rather than a new debilitating.

What is the key level for a reversal?

It is important to surpass the market gap of over $11.37. Otherwise, it could cause further downsides before potential recovery.

story [IP] Prices have fallen nearly 10% over the past 24 hours, reflecting bearish momentum towards prices after recent profits.

The move left the token community with a mixed response as to whether the decline was merely a price correction or the onset of a new trend.

Narrowing it into the daily chart, Drop left a token price and tested the market gap at around $11.37. This hinted at the decline being a short-term fix.

As seen on the chart, the IP appears to have bounced back strongly, potentially starting a reversal, indicating that the next target level is $15.

Source: TradingView

On-chain metrics are lean and strong

Despite the technical pullback, on-chain activity also caused bullish signals.

Spot Retail Activities in Cryptoquant Data shows an increase in retail participation in IP’s spot markets, with traders steadily increasing their activity over the past day.

This influx of retail demand helps stabilize price action, especially when sentiment in the broader market remains supportive.

Source: Cryptoquant

However, in most cases it is the whales that determine the market direction. However, the spot volume bubble map showed heating during pressing.

Retailers can be equal to the task by providing the momentum they need for a potential reversal.

Source: Cryptoquant

The futures market has added another interest base. Futures Taker CVD (Cumulative Volume Delta, 90 Days) data highlighted a significant increase in buyer advantage at the time of writing.

The buyer’s ruler is $11.87, suggesting that traders are favoring longer positions despite declining spot prices.

Source: Cryptoquant

What is available for IP?

If retailers continue to drive demand for spots and buyers maintain their advantage in the futures market, the tokens can ultimately find support, and the current gap will cause some green signals due to potential inversion zones.

However, the possibility of a bearish continuation cannot be completely ignored. If the support zone developed in the current market gap is not possible, the token price could drop even further.

However, as it stands, the balance of signals from all metrics suggests careful optimism. The fundamental demand from retailers and futures buyers suggests a potential price reversal.