$IP – Rising Wedge Breakout Zone

Price is moving within a rising wedge pattern on the 2-hour chart – a structure often associated with trend exhaustion or a near-term correction once the upper resistance is tested.

• Price has touched the upper boundary of the wedge near $6.27, suggesting a possible local top or rejection area

• Momentum remains strong, but volume tapering could indicate an upcoming decision zone

• If the wedge breaks to the downside, expect a potential retest of $5.8–$5.6 range (support zone)

Scenarios to Watch:

1. Bullish Breakout: If #IP closes convincingly above $6.30 with volume, this rising wedge could convert into a bullish continuation — invalidating the bearish expectation

2. Bearish Rejection: Failure to break the top boundary may result in a correction toward wedge support (~$5.6)