The cryptocurrency IP has experienced a 4% price increase in the past 24 hours, despite a market decline. This rally is due to strong demand, as reflected in its high trading volume and short liquidations. The surge in trading volume suggests genuine interest and growing demand for IP. However, traders in the futures market have opened short positions against IP, as indicated by its low long/short ratio. This means that traders are primarily betting on a price drop. Despite this, IP's rising price has caused a short squeeze of nearly $1 million, forcing short sellers to cover their positions. The Elder-Ray Index also supports a bullish outlook, with a current value of 0.46, suggesting upward momentum. If demand remains strong, IP's price could rally to $6, but if demand weakens, the price could fall to $4.36.



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