Story (IP) price has surged more than 10% in the last 24 hours as excitement builds around its newly launched mainnet. Story was one of the most anticipated crypto launches of the year, backed by $134 million in funding from investors like Andreessen Horowitz and Polychain Capital.
With strong momentum driving its price action, technical indicators suggest that IP is at an important point. Its market cap crossed $500 million before seeing a brief correction. Whether it continues its rally toward new highs or faces resistance and pulls back will depend on how traders react to key support and resistance levels.
Story ADX Shows the Uptrend Is Very Strong
Story is trending after the official launch of its Layer-1 mainnet, with its recent surge triggering a strong increase in ADX. The Average Directional Index (ADX), which measures trend strength regardless of direction, has climbed from 25 yesterday to 43 today.
Its price raised more than 11% in the last 24 hours, making it the best-performing altcoin of the day.
Typically, an ADX reading above 25 confirms a strong trend, while values below 20 indicate weak or choppy price action. The current rise suggests that momentum is picking up, with increased trading activity and a sustained directional move.
With ADX now at 43, the trend remains strong, reinforcing bullish sentiment. This means buyers are in control, and the price could continue its upward trajectory if momentum holds. If ADX continues rising, it could support further gains and signal an extended trend.
However, if ADX starts declining, it may suggest that Story (IP) momentum is fading, which could lead to consolidation or even a potential reversal.
A drop in ADX alongside price weakness would be an early warning of trend exhaustion, while a stabilization in ADX at high levels would indicate that the market is still in a strong phase.
IP BBTrend Is Still Very Positive, But Stable
IP’s BBTrend has remained positive for more than a day, reaching a peak of 14.3 before pulling back to 10.6. This comes after a strong recovery from its February 16 low, when it hit a negative peak of -29.
BBTrend (Bollinger Band Trend) is an indicator that measures price direction relative to its Bollinger Bands, helping to identify trend strength and potential reversals.
Positive values indicate bullish momentum, while negative values suggest a downtrend. Extreme readings often signal overbought or oversold conditions.
With BBTrend now at 10.6, the indicator remains in bullish territory, but its decline from 14.3 suggests that momentum is cooling off. This could mean that buying pressure is fading, leading to either a period of consolidation or a potential shift in trend.
If BBTrend stabilizes around this level, the uptrend may continue, but a further drop could indicate growing weakness. Traders will be watching closely to see if the pullback is temporary or the beginning of a larger move downward.
IP Price Prediction: Can Story Reach $2.30 Soon?
Story (IP), which is placing it between the intersection of Intellectual Property and Artificial Intelligence, is currently trading between a resistance at $2.12 and a support at $1.90, staying within a key price range. If the uptrend weakens and $1.90 is lost, the next major support lies at $1.79.
A continued downtrend could push the price further toward $1.58 or even $1.40, signaling a deeper correction. These levels will be critical in determining whether buyers step in to defend the trend or if selling pressure intensifies.
On the other hand, if the uptrend holds strong, the altcoin could test the $2.12 resistance. A breakout above this level could confirm bullish momentum and open the door for a move toward $2.20 or even $2.30.
In this case, buyers would remain in control, and price action could extend higher.
The post Story (IP) Becomes Top Gainer of the Day As Market Cap Hits $500 Million appeared first on BeInCrypto.