- Story (IP), showcasing extreme bullishness, surged by 9% in the last 24 hours.
- IP price is being prepared to break its all-time high of $7.990.
Story (IP) is showing extremely bullish momentum as it moves towards its all-time high of $7.990, and the altcoin is currently at good technical levels that indicate that it is soon going to move upwards. The token has demonstrated an impressive recovery power after its former consolidation period and has broken through several resistance levels with confidence.
The price action tells a strong bullish story, as Story trades significantly above its 50-day exponential moving average of $4.412, which shows that there is a continued buying pressure and that there is robust institutional interest. This is a large premium over the 50-day EMA, which indicates that the current rally has strong underpinnings, which makes it less likely to turn around sharply. The price has been on an upward trend, and it has been steady and systematic, indicating organic growth and not pumping.
As per CMC data, the Story price has surged by almost 109% in the last month and 9% in the last 24 hours. This demonstrates that the altcoin demand is increasing and the current rally is genuine.
What Next For Story Price?
The technical indicators are portraying a picture of overwhelming bullishness in all aspects. The Relative Strength Index (RSI) is at 80.14, which means that the momentum is strong, but it is close to overbought. Nevertheless, during powerful bull markets, RSI may be high over a longer period, and the current level indicates that there is still buying pressure and not an imminent reversal.
The MACD indicator is still in positive territory with bullish crossover signals still present, and this indicates that the current trend is strong. Also, the Awesome Oscillator value of 1.524 and the rising green histogram further confirm the momentum that is gaining traction in the price action of Story.
The short-term technical configuration has a definite breakout picture, where the resistance is at $6.480 and must be broken. A clear break above this area would probably lead to a faster buying pressure that may push Story to the psychological $8.00 mark. This is a good gain of about 23% above the current resistance levels, and so it is a good bet for momentum traders.
The technical indicators are very strong, the market sentiment is good, and the market is very close to all-time highs, which makes the case for further upside very strong. Nevertheless, traders are advised to be cautious of the possible profit-taking around the all-time high level, since it is common to find psychological resistance within such major price levels.
All in all, Story (IP) seems to be in good shape to challenge and even surpass its former high, with strong technical fundamentals and a continued bullish momentum that does not seem to slow down any time soon.
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