Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>IMPP stock price breaks the $1.50 hurdle and continues the recovery.</a></li>
 <li><span>2</span> <a>Imperial Petroleum stock price is trying to climb above the 50-day EMA.</a></li>
 <li><span>3</span> <a>IMPP stock price is near the supply zone.</a></li>
</ul>
<p>Imperial Petroleum Inc. IMPP stock price recovered 55% from the 52-week low and broke out of the $1.50 hurdle. It approached the 50-day EMA and buyers are trying to sustain the price to reverse the short-term trend.&nbsp;</p>
<p>Imperial Petroleum stock price is in the recovery phase and the presence of buyers is visible in the lower levels.&nbsp;</p>
<p>In the previous quarter’s earnings, IMPP stock price reacted negatively and opened a 35% gap down. Later, the price declined further and eroded a big portion of the market capitalization.&nbsp;</p>
<p>At present, the stock price is near the lower range of the gap zone which is likely to act as a resistance for bulls. If the buyers succeed in filling the gap zone, then the stock price might rally to the $3.00 level.&nbsp;</p>
<p>IMPP stock price is down by 41.80% on a YTD basis. It disappointed the expectation of the long-term investors due to this. The fresh buyers look a little reluctant to build longs.&nbsp;</p>
<p>On a higher timeframe, the price pattern of the IMPP stock looks bearish. So, it will be interesting to see how the price will react in the coming session which will decide the next direction.</p>
<h2 class="wp-block-heading" id="strong-will-impp-stock-price-face-hurdle-at-gap-zone-strong"><strong>Will IMPP Stock Price Face Hurdle at Gap Zone?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh5.googleusercontent.com/cRYtRmFqECs9EAsLPUjGAf9zum89Lz8hghhkteq62F_hvbicx5Emh1C1-frlSH1Xpt-_VnUUejwrAdptDQmkCXT4hlvq5HnAwJUds8uUEZKsLfK5GEOcz8dqc2euhkhDv7476dbaiMC5qB7GNNdb82A" alt="IMPP Stock Price Analysis: Will IMPP Stock Fill the Gap Zone?">
  <figcaption class="wp-element-caption">
   NASDAQ: IMPP daily chart by <a href="https://www.tradingview.com/x/B0O3w2Od/" rel="noopener noreferrer nofollow">Tradingview</a>
  </figcaption>
 </figure>
</div>
<p>IMPP stock price looks highly oversold so the temporary pullback is much needed. The recent upmove in the stock looks reliable but confirmation will come when the price will be able to hold the higher levels.&nbsp;</p>
<p>Imperial Petroleum stock might spend time inside the narrow range which will be the indication of the base of the formation.&nbsp;</p>
<p>Till IMPP share price trades below $2.50, the sellers will remain active. So, until the breakout happens, investors should remain cautious and avoid taking long bets. The analysis suggests that<a href="https://www.thecoinrepublic.com/2023/08/21/impp-stock-beware-of-wild-short-squeeze-in-imperial-petroleum/" rel="noopener noreferrer nofollow"> IMPP stock price</a> will continue the recovery and fill the gap zone.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-imperial-petroleum-stock-analysis-supertrend-generated-buy-signal-strong"><strong>Imperial Petroleum Stock Analysis: Supertrend Generated Buy Signal</strong></h3> 
<div class="tradingview-widget-container">
 &nbsp;&nbsp; 
 <div id="tradingview_7b395"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NASDAQ:IMPP",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "light",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;RSI",

    "STD;Supertrend"

  ],

  "container_id": "tradingview_7b395"

}

  );

  </script>
</div> 
<p>Imperial Petroleum stock price rose for four consecutive weeks. The week chart pattern is highly bearish so sellers will try their best to reject the price.&nbsp;</p>
<p>However, at the same time, if broader market indices begin to rise upward, then <a href="https://www.thecoinrepublic.com/2023/08/21/impp-stock-beware-of-wild-short-squeeze-in-imperial-petroleum/" rel="noopener noreferrer nofollow">IMPP shares </a>may also be affected.&nbsp;</p>
<p>Recently, the super trend displayed a fresh buy signal, indicating that the short-term trend is turning bullish. The RSI at 64 slopes upward denoting the strength and the confidence of buyers.&nbsp;</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Imperial Petroleum Inc. IMPP stock price recovered 55% from the recent low. The bulls are returning back on track so the recovery might continue for some more time.&nbsp;</p>
<p>The analysis suggests that Imperial Petroleum stock will rise in the coming months and fill the gap zone.</p>
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5>
<ul>
 <li>Resistance levels: $2.50 and $3.58</li>
 <li>Support levels: $1.17 and $1.00</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

IMPP Stock Price Analysis: Will IMPP Stock Fill the Gap Zone?

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Thecoinrepublic.com

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