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- Story (IP) surges 16.25% to $5.64 with market cap hitting $1.66B.
- Trading volume spikes 66.5%, confirming bullish interest.
Story (IP) climbed 16.25% in the last 24 hours to trade at $5.64, marking a sharp upward movement in a consolidating market. With a market cap of $1.66 billion and a 24-hour trading volume of $101.84 million, the token’s market cap ratio of 6.02% confirms intensified bullish participation.
The total supply remains capped at 1 billion IP, although the max supply is undefined. With 294.61 million tokens currently in circulation, the demand-pressure dynamic is clearly pushing the price higher. Moreover, the fully diluted valuation (FDV) now stands at $5.7 billion, underlining growing investor confidence.
Is Story (IP) Ready to Break $6?
Technically, IP has broken decisively above a major barrier near $5.00. The next critical resistance lies around $5.70. If buyers manage to overcome this level, price discovery could extend toward the psychological zone of $6.20–$6.50. On the flip side, any retracement may revisit the $4.85–$5.00 region, which now serves as robust support.
Volume bars continue to expand in tandem with price, indicating a genuine breakout. The surge is not isolated; it’s backed by strong confirmation from volume momentum. Higher green volume bars reflect increased long positions, strengthening bullish conviction.
The Relative Strength Index (RSI) prints 82.42, pushing far into overbought territory. While this implies potential cooling, the RSI average at 75.51 suggests the momentum is still well-supported. Such high RSI readings often accompany aggressive rallies, though they warrant caution for late entries.
Further, the Chaikin Money Flow (CMF) reading stands at +0.05, indicating moderate capital inflows. While not extreme, this suggests sustained demand is entering the market. As long as CMF stays above zero, accumulation will likely continue.
No clear bearish crossover exists yet on the moving averages. The price remains firmly above short and medium-term moving averages, reflecting ongoing strength. However, given its overbought signals, volatility may rise, demanding precision from short-term traders. The trend remains bullish as long as IP holds above the $5.00 mark.