The cryptocurrency IP has experienced a 20% surge in the past 24 hours, making it the top-performing asset in the market. It has been trading within a descending parallel channel since reaching an all-time high of $9 on February 21. However, recent increased buying demand suggests that there could be a bullish breakout. Technical indicators, such as the MACD and Elder-Ray Index, support this bullish scenario. If the price successfully breaches the channel's upper trendline, it could rally past the $6 resistance level and reach its all-time high of $9. On the other hand, if selling pressure resumes, IP could fall to around $4.36.



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