The Story price surged 58% in the last 24 hours to trade at $4.94 as of 12:18 a.m. EST on trading volume that skyrocketed 161% to $1.2 billion.
Story Price On A Bullish Momentum
The IP price chart illustrates a clear bullish trend, with the token making a significant upward move. The Story price surged from approximately $1.01 to a peak near $4.62, marking an impressive rally.
Such a steep incline suggests strong buying pressure, with price action forming higher highs and higher lows.
After reaching the $4.62 resistance level, the price of IP saw a minor retracement, according to GeckoTerminal data. However, it remains above crucial support zones, indicating the possibility of further upside movement.
The current retracement is testing important Fibonacci levels, which will play a key role in determining whether the uptrend continues or if a deeper pullback occurs.
Currently, the price of Story remains above the 0.236 FIB level, suggesting that the bullish momentum is intact. If the price holds above $3.76, a continuation of the rally is likely.
The 50 Simple Moving Average (SMA) on the 1-hour chart at $3.35 is sloping upwards, confirming the strong bullish trend. This moving average is acting as a dynamic support level, helping sustain the price momentum.
Meanwhile, the Relative Strength Index (RSI) is currently at 60.79, which is moderately bullish. This level indicates that the market is not yet in overbought territory (above 70), leaving room for further price appreciation before potential exhaustion.
IP/USDT Chart Analysis Source: GeckoTerminal
IP Price Prediction
Given the strong trend and support at key levels, IP’s outlook remains bullish.
If the Story price holds above the $3.76 support (0.236 Fib), the next potential targets are $5.00 and $6.00 in the short term. A break above $4.62 could lead to new highs.
Conversely, if the IP price falls below $3.76, deeper retracements to $3.24 (0.382 Fib) and $2.81 (0.5 Fib) may occur before resuming the uptrend.
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Best Wallet Quickly Closing On The $11 Million Milestone – Next Crypto To Explode?
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