Story price saw a remarkable surge of 37% in the last 24 hours, reaching $2.87. Further analysis shows a strong bullish momentum with several resistance levels ahead.
Current Analysis of Story
The Story price has been on a steady uptrend, forming higher lows and higher highs while respecting an ascending trendline. A Fibonacci retracement tool has been applied, showing key levels of support and resistance. Story is approaching the 0.5 Fibonacci level at $2.86, a critical area to watch. Breaking this level successfully will open the way to key resistances at $3.30 and $3.84, according to GeckoTerminal. The Relative Strength Index (RSI) at 71.02 indicates a slight overextension in the short term, but in strong uptrends, RSI can stay overbought for extended periods.
Future of Story's Price
Given the current market structure, the Story price is likely to continue its upward trajectory, targeting the $3.30-$3.84 resistance zone. If the price breaks above $3.30, it may aim for $3.84 in the near future. While the overall trend remains bullish, traders should exercise caution due to the high RSI, indicating potential minor pullback opportunities.
Investor Interest in Solaxy
Meanwhile, investors are showing interest in a new layer 2 Solana meme coin called Solaxy. Its presale has raised over $22 million, highlighting strong interest in Solana's first layer 2 scaling solution. Solaxy offers unique functionalities including off-chain transaction processing, reducing network strain, and enhancing Solana protocol's efficiency.
The significant price surge in Story is accompanied by a strong bullish momentum, but high RSI requires careful attention from traders. Simultaneously, Solaxy has garnered investor interest, deemed a promising project on Solana technology.
