Story (IP) Token Surges Amid Market Turmoil
Despite the ongoing market turmoil, Story, a Layer-1 blockchain, has been making waves in the crypto space. This altcoin has outperformed some of the top altcoins in terms of weekly returns, capturing the attention of investors and traders alike.
If you are considering investing in Story token but are unsure about its market sentiments and price trends, you’ve come to the right place. CoinPedia has delved into the potential price prospects of Story (IP) token just for you!
IP Price Records Increased Price Volatility!
The price of Story token has experienced a remarkable surge of 54.39% over the past 24 hours, with a trading volume of $1.36 billion, marking a substantial change of +155.26%. Additionally, the token has seen a significant increase of 176.85% in the last seven days and boasts a year-to-date return of +76.13%, signaling a bullish trend for the altcoin in the crypto market.
The Simple Moving Average (SMA) is indicating a potential bullish convergence in the 1-hour time frame, suggesting a rise in both buying and selling pressure. Meanwhile, the RSI indicator is hovering around the overbought range on the Story price chart, with its average trendline moving above the range, indicating a likelihood of continued price appreciation for IP coin in the near future.
How High Will Story Price Rise?
Sustaining the price above its support level of $4.80 could pave the way for Story token to target its resistance level of $6. Moreover, if the bullish sentiment strengthens, the IP coin price could aim for its upper resistance level of $7.75 in the upcoming weeks.
On the flip side, in the event of a bearish trend reversal, the Story (IP) price may dip towards its low of $3.65. Furthermore, if the bearish sentiment persists, the altcoin could decline towards its lower support level of $2.50 in the near term.
FAQs
What is the total supply of Story token?
The total supply of IP tokens is 1 billion.
Is IP crypto a good investment?
Given the current market sentiments, it is premature to draw a conclusion as the project is relatively new in the market.
What is the price of Story?
At the time of writing, the value of one IP token was $4.933.
In conclusion, Story token has been on a bullish trajectory amidst the market turmoil, showcasing significant price volatility and potential for further price appreciation. As always, it is essential to conduct thorough research and consider your risk tolerance before investing in any cryptocurrency.