The Story (IP) token experienced a price increase, reaching $3.09 amidst a significant rise in market capitalization and trading volumes.
Market and Capitalization of Story (IP)
Over the past 24 hours, the Story (IP) token surged 15.27%, hitting $3.09 after an intraday high of $3.15. The market capitalization rose to $898.87 million, reflecting a 15.3% increase. Trading volume more than doubled to $67.02 million, representing a 117.65% spike. With 290.47 million tokens in circulation and no capped supply, the fully diluted valuation reached $3.11 billion.
Technical Analysis and Possible Movements
Technical analysis indicates that Story (IP) has reclaimed the $3.00 mark after bouncing from a low near $2.74. Immediate resistance stands at $3.18. If bulls can 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, which could lead to further dips towards $2.50.
Overall Summary and Future Forecasts
On the daily chart, the Relative Strength Index (RSI) currently shows 39.74, indicating upward momentum despite remaining in bearish territory. The Chaikin Money Flow (CMF) indicator's shift into positive territory further confirms capital inflow. As moving averages approach convergence, if the RSI line crosses above its average, it may trigger a bullish crossover. Maintaining above $3.00 is crucial for the token's structure.
The rise in the Story (IP) token's price, coupled with increased market capitalization and trading volume, may indicate growing interest from investors. However, future movements will depend on dynamics at levels of resistance and support.
