IP has fallen more than 12% at the time of writing, with daily trading volume down 16% to $43 million, signaling weak activity amid its two-month price slump. The broader crypto market declined more than 3.5% as geopolitical tensions between Israel and Iran spurred risk-off sentiment. IP price action has lost more than 90% of its valuation from its all-time high, and it has tracked a descending trend channel for February.
Since mid-month, the altcoin has traded above the channel’s midpoint but remains under pressure; technicals show MACD momentum returning to the sellers and RSI deeply oversold around 17.29. Bulls could return if buying activity picks up around the $0.80 zone. On-chain metrics show deterioration: active addresses fell from 1,033 to 208 since February, with gas-fee outlays dropping from about 43 IP to 1.73 IP in the period; cumulative transactions rose to 95.10 million, suggesting more activity that could reflect new participants shorting the coin.
The combination of price action and on-chain signals points to IP testing the $0.80 support as the reaction at that level could determine the next move. IP fell 12% amid tensions from the Israel-Iran war and weak network activity, with price approaching $0.80 as markets weigh potential reversal versus continued weakness.
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