The post Why Story (IP) Is Up Today? appeared first on Coinpedia Fintech News
Despite the ongoing market turmoil, Story, a Layer-1 blockchain has received quite some attention from the crypto space. It is noteworthy that, this altcoin has outperformed the top altcoins in terms of weekly returns, resulting in it gaining the market spotlight.
Planning on investing in this altcoin but concerned about its market sentiments and price trends? In this article, we at CoinPedia have uncovered the possible price prospects of Story (IP) token just for you!
IP Price Records Increased Price Volatility!
The price of Story token has surged 54.39% over the past 24 hours with a trading volume of $1.36 billion, a change of +155.26%. Furthermore, it has surged 176.85% in the last seven days and has a YTD return of +76.13%, highlighting increased bullish price action for the altcoin in the crypto space.
The Simple Moving Average (SMA) is on the verge of experiencing a bullish convergence in the 1H time frame. This highlights an increase in the buying and selling pressure.
On the other hand, the RSI indicator continues hovering around the overbought range in the Story price chart. With its average trendline moving above the range, the IP coin price may continue gaining value this week.
How High Will Story Price Rise?
Maintaining the price above its support level of $4.80 could set the stage for this altcoin to head toward its resistance level of $6. Furthermore, if the bullish sentiment intensifies, this could result in the IP coin price heading toward its upper resistance level of $7.75 this month.
On the contrary, if a bearish trend reversal occurs, the Story (IP) price could plunge toward its low of $3.65. Moreover, if the bearish sentiment intensifies, this altcoin could plunge toward its lower support of $2.50 in the coming time.
Are you one of many who are wondering if the largest altcoin by market capitalization will achieve the milestone price of $5000 this altcoin season? Read our latest Ethereum Price Prediction today to explore the long-term targets!
FAQs
The total supply of IP tokens is 1 Billion.
Considering the present market sentiments, it is too early to jump to a conclusion as the project is relatively new in the market.
At the time of writing, the value of one IP price was $4.933.