- Story (IP) rises 15.27%, touching $3.15 before settling at $3.09.
- Market cap climbs to $898.87M with volume up 117.65% to $67.02M.
Story (IP) surged 15.27% in the past 24 hours, reaching $3.09 after touching an intraday high of $3.15. The token’s market capitalization rose to $898.87 million, reflecting a 15.3% daily increase. Trading volume more than doubled to $67.02 million, representing a 117.65% spike. The market cap ratio now stands at 7.47%, hinting at heightened interest.
With 290.47 million tokens in circulation and no capped supply, Story’s fully diluted valuation reached $3.11 billion. Despite the sharp upswing, the price remains far below the $5.00 region observed earlier in the month. However, the latest price action suggests that bulls may be preparing for a trend reversal.
Breakout Ahead for IP?
Technically, IP has reclaimed the $3.00 mark after bouncing from a low near $2.74. Immediate resistance stands at $3.18. If bulls clear this threshold, the next upside target may emerge near $3.45, a level not seen since early June. Conversely, if bears re-enter, immediate support lies at $2.73. A breakdown could expose the token to a further dip toward $2.50.
On the daily chart, the Relative Strength Index (RSI) now prints at 39.74. Although IP still in bearish territory, the RSI shows signs of upward momentum. The RSI average trails at 34.73, confirming the improving trend. If this trajectory sustains, bullish momentum could intensify in the near term.
Meanwhile, the Chaikin Money Flow (CMF) indicator flipped into positive territory, registering 0.06. This shift suggests that capital inflow now outweighs outflow. With daily trading volume exceeding 1.98 million, bulls are asserting short-term control.
Moving averages are nearing convergence. If the 14-day RSI line crosses above its average, it may trigger a bullish crossover. Such a signal would reinforce a medium-term outlook for recovery. Nevertheless, the token must hold above the $3.00 level to maintain its structure.
Volatility remains elevated, but sentiment is shifting. Both the RSI recovery and CMF positivity hint at growing conviction among buyers. Price resilience around $2.73 laid the groundwork for this rebound. Now, traders are watching whether the token can break above $3.18 with volume support.
If resistance falters, Story (IP) could test the $3.45 zone and possibly extend toward $3.70. However, caution remains warranted unless it firmly establishes higher lows.
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